(Source: Xinhua News Agency Client 2025-04-12)
Xinhua News Agency, Beijing, April 12, Title: US tariff blackmail is unpopular, w88 online casino betting firmly defends its own rights and interests
In recent days, the US government has arbitrarily abused tariffs to impose additional so-called "reciprocal tariffs" on global trading partners, including w88 online casino betting, which has been strongly dissatisfied by the US and international community, causing significant turmoil in the financial market. It has later suspended the imposition of high "reciprocal tariffs" on some trading partners, but it still maintains a 10% "benchmark tariff" on these countries and regions and a high tariff of 125% on w88 online casino betting. In response to the repeated escalation of the US's "reciprocal tariffs", w88 online casino betting has successively introduced a series of countermeasures to firmly defend its own rights and interests, effectively fight back against economic bullying, and resolutely safeguard multilateralism.
How do you view the US actions and w88 online casino betting's measures? The reporter interviewed industry insiders.
w88 online casino betting's countermeasures are reasonable, favorable and moderate
——On April 2, Eastern Time, the United States announced that it would impose "reciprocal tariffs" on all trading partners, of which the tariff rate on w88 online casino betting was as high as 34%.
On April 4, Beijing time, w88 online casino betting announced that it would impose a 34% tariff on all imported goods originating from the United States based on the current applicable tariff rate. At the same time, w88 online casino betting has also filed a lawsuit in the WTO dispute settlement mechanism and introduced a number of measures such as implementing export controls for w88 online casino betting-heavy rare earth-related items.
--On April 8, Eastern Time, the United States announced an additional 50% tariff on related Chinese products based on the original so-called "reciprocal tariff" measures, that is, the tariff rate on Chinese products increased to 84%.
On April 9, Beijing time, w88 online casino betting announced that the tariff rate for imported goods originating from the United States increased from 34% to 84%; at the same time, 6 American companies were included in the list of unreliable entities, 12 American entities were included in the list of export control and control list; risk warnings were issued to Chinese tourists to the United States, and study abroad warnings were issued.
——On April 9, Eastern Time, the United States continued to increase taxes on Chinese products to 125%, and suspended the "reciprocal tariffs" of more than 10% of other countries for 90 days.
On April 11, Beijing time, w88 online casino betting announced that the tariff rate for imported goods originating from the United States has been increased to 125%. At the same time, the WTO additionally sued the United States for further raising tariffs against w88 online casino betting.
Shi Xiaoli, professor at the School of International Law of w88 online casino betting University of Political Science and Law, said that in response to the so-called "reciprocal tariffs" in the United States, w88 online casino betting's three reciprocal countermeasures implemented by my country in accordance with our laws are reasonable, beneficial and moderate, which fully reflects the firm determination to safeguard national security and interests, and the responsibility and responsibility of major powers in maintaining the rules-based multilateral trading system.
On April 11, the State Council Tariff Commission clearly pointed out in its announcement, "Given that under the current tariff level, there is no possibility of market acceptance of goods imported from the United States from the United States, if the United States continues to impose tariffs on goods imported from the United States in the future, w88 online casino betting will ignore it."
On the same day, the spokesperson of the Ministry of Commerce said that the US's repeated imposition of abnormally high tariffs on w88 online casino betting has become a digital game, and it has no practical significance in economic terms. It will only expose the US's trick of instrumentalizing and weaponizing tariffs, and bullying and coercing, and become a joke. If the US continues to play the tariff digital game, w88 online casino betting will ignore it.
"This statement reflects w88 online casino betting's long-standing prudence, restraint, calmness and wisdom of a great power, and further shows that w88 online casino betting will no longer give the Trump administration a chance to make a political show and deceive the people with digital games." In Shi Xiaoli's view, although the State Council's tariff rules committee has stated that if the US continues to impose tariffs on w88 online casino betting, it will not follow up on the implementation of tariff countermeasures, but this does not mean that w88 online casino betting has abandoned other countermeasures against the United States. If the US insists on continuing to substantially infringe on w88 online casino betting's rights and interests, there are many measures in w88 online casino betting's countermeasure toolbox that can be implemented in accordance with the law.
"This is showing to the United States and the world that we will never accept extreme pressure or blackmail bullying. At the same time, we also have enough courage and means to fight back and counterattack."Tu Xinquan, Director of the w88 online casino betting World Trade Organization Research Institute of the University of International Business and EconomicsSay.
Some overseas media believe that "w88 online casino betting has a reasonable and well-founded counterattack against US tariff bullying." Bloomberg said, "Any expectation that the world's second largest economy will simply accept the blow or rush to appease the White House is a delusion."
The United States launches a "tariff war" to harm others and harm itself
U.S. stocks fell, public protests, supermarkets rushed to buy... The US government claimed that the tariffs were imposed to reduce the trade deficit, revitalize manufacturing, and increase jobs, but reality has hit this statement a heavy blow.
Authoritative person pointed out that the relevant measures of the US government seriously affect its credibility, and a series of tariff policies will aggravate the risk of stagflation in the US economy and seriously impact the stability of the global industrial chain and supply chain. The market's concerns about the US economic recession have significantly increased, and its macroeconomic governance will face failure and disorder. The United States launches a "tax war" to harm others and even more harm oneself, and will eventually shoot itself in the foot.
Recently, many companies no longer silently bear the costs increased by tariffs, but clearly mark them on consumption receipts, which triggered American netizens to start the "online reconciliation" model, complaining that the money was "unfairly spent."
"End of all these costs will be passed on to consumers." Jonathan Gold, vice president of the National Federation of Retailers, said bluntly that many small businesses that rely on imported raw materials face the dilemma of dramatic costs and difficult survival.
Yale University Budget Laboratory predicts that after the implementation of "peer-to-peer tariffs", if other countries take countermeasures, the price increase of US personal consumption expenditure (PCE) will expand to 2.1%, and US low, medium and high-income families in the United States will lose an average of US$1,300, US$2,100, and US$5,400, becoming the final "payer" of tariffs.
In the context of globalization, many American companies rely on global supply chains, which is not only an inevitable result of structural problems in the United States economy, but also determined by the comparative advantages of various countries and the international division of labor pattern. As one of the biggest beneficiaries of economic globalization, the United States claims to have suffered losses and will not hesitate to destroy the long-established global supply chain system, which will eventually backfire its industrial efficiency and global competitiveness.
Authoritative person analyzed that imposing tariffs is difficult to balance the US trade deficit. The imports of the United States are mainly industrial finished products such as computer electronic products, transportation equipment, chemicals, machinery and equipment, daily necessities, while the exported products are mainly high-tech products, industrial intermediates and resource-based products.
Ying Pinguang, dean of the School of International Organizations of Shanghai University of International Business and Economics, gave an example and analyzed that the imposition of tariffs may give American steel and aluminum companies a certain amount of breathing space in the short term, but in the long run, this protectionist behavior will weaken the innovation motivation and international competitiveness of companies. In addition, the United States consumes a large amount of steel and aluminum every year in areas such as automobile manufacturing, aerospace, oil production, construction, and infrastructure construction. The increase in tariffs will undoubtedly significantly increase the production costs of these industries, compress the profit margins of enterprises, and thus may lead to reduced investment, layoffs or even bankruptcy of enterprises.
w88 online casino betting will unswervingly do its own business
On April 9, the Chinese government issued a nearly 30,000-word white paper "w88 online casino betting's Position on Several Issues Concerning Sino-US Economic and Trade Relations", clarifying the facts of Sino-US economic and trade relations, clarifying w88 online casino betting's policy stance on related issues, and reiterating that there is no winner in the trade war and there is no way out for protectionism. w88 online casino betting and the United States have achieved success, which is an opportunity rather than a threat to each other.
Faced with the US's changeable and extreme pressure, w88 online casino betting did not close the door to negotiations, but did not take a chance, but was prepared to deal with the impact. As the spokesperson of the Ministry of Commerce said, w88 online casino betting's position is clear and consistent, and the door is open, but dialogue must be conducted on an equal basis on the basis of mutual respect.
"The essence of Sino-US economic and trade relations is mutual benefit and win-win results, and confrontation and conflict should not be our choice." Liao Fan, professor at the School of Law of the University of the Chinese Academy of Social Sciences, pointed out that as the two largest economies in the world, the total economic output of the two countries exceeds one-third of the world, and economic and trade cooperation between w88 online casino betting and the United States has a deep foundation, huge potential and broad space. This is an objective fact that it is not diverted by any prejudice and obsession.
Many experts said that since the United States provoked a trade war with w88 online casino betting in 2017, w88 online casino betting has always insisted on concentrating on doing its own business well, with richer experience in struggle and more confidence in development. No external shock can change w88 online casino betting's fundamentals with stable economic foundation, many advantages, strong resilience and great potential, nor can it change w88 online casino betting's stable trend of unswervingly promoting high-quality development and high-level opening up.
Shi Xiaoli said that in the face of the US's abuse of tariffs, my country's series of countermeasures reflect a clear understanding, a trick in hand, and a proper measure, and stabilize market confidence with practical policies and measures. Faced with the global trade war deliberately provoked by the US, we must "one case, one case" and "one enterprise, one policy" to accurately help industries and enterprises that have been hit hard.
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