Beijing urges US to rescind tariff measures

China has urged the United States to rescind its unilateral tariff measures imposed on 手机新浪nba新闻网trading partners, and said it would keep a close eye on any "alternative measures" adopted by Washington to sustain hefty duties, the Ministry of Commerce said on Monday.

While China remains committed to working with the US for mutual benefit and the stability of the global economy, officials and analysts said that Beijing will take firm countermeasures should Washington take any action that infringes upon its interests.

Their comments came after the US Supreme Court scrambled the trade landscape on Friday by striking down sweeping tariffs proposed by US President Donald Trump.

However, hours after the ruling, Trump vowed the tariffs would quickly be reimposed in other forms, announcing plans for a new 10 percent "global tariff" under Section 122 of the Trade Act of 1974, which he later raised to 15 percent.

Prior to the US Supreme Court's decision, US tariffs on Chinese imports comprised five layers — 2.5 percent most-favored-nation tariffs, 8.4 percent Section 301 tariffs, 11 percent Section 232 tariffs, 10 percent fentanyl tariffs and 5.1 percent "reciprocal" tariffs — totaling 37 percent, according to calculations by Guosheng Securities, a State-owned enterprise headquartered in Nanchang, the capital of Jiangxi province.

The Supreme Court ruling invalidates the fentanyl tariffs and the "reciprocal" tariffs on China, cutting the baseline rate to 21.9 percent. But the addition of the new 15 percent "global tariff" again pushes up the composite rate to about 28.6 percent, Guosheng Securities noted.

China is conducting "a comprehensive assessment" of the content and implications of the court ruling, a spokesperson for the Chinese Commerce Ministry said on Monday, stressing that China has consistently opposed all forms of unilateral tariff measures.

The spokesperson noted that the US' unilateral actions, including the so-called "reciprocal" tariffs and fentanyl tariffs, not only violate international trade rules but also contravene US domestic law and serve the interests of no party.

"We have also noted that the US is reportedly preparing alternative measures, such as trade investigations, to maintain tariffs on trading partners," the spokesperson said. "China will closely monitor the situation and take firm actions to safeguard its legitimate interests.

"Facts have shown that both China and the US stand to benefit from cooperation and lose from confrontation," the spokesperson added.

Relations between China and the US, after experiencing several ups and downs and multiple rounds of trade talks over the past year, achieved an "overall dynamic stability", as described by Chinese Foreign Minister Wang Yi. Following the latest trade consultations in Malaysia in October, the two countries agreed to extend their tariff truce for one year.

Luo Zhiheng, chief economist and head of the research institute at Yuekai Securities, said, "The US still retains relatively high tariffs on China, and its efforts to contain China in high-tech sectors remain unabated."

Ultimately, the upper hand in future negotiations between China and the US depends on each side's core leverage points — their respective economic resilience and technological strength, Luo added.

For China, the key to mitigating the impact of external uncertainties and securing the initiative in the long-term China-US trade dynamics lies in strengthening its economic fundamentals, enhancing its capacity for independent technological innovation and maintaining strategic resolve amid a complex and evolving international landscape, added Luo, Yuekai Securities' chief economist.

Xiong Yuan, chief economist at Guosheng Securities, pointed to fundamental constraints that render Section 122 unsuitable as a long-term tariff mechanism. The statute imposes a hard 150-day time limit on any duties imposed, expiring in late July unless extended by an act of the US Congress.

The Trump administration's invocation of Section 122 is likely to serve as only an interim measure, with Xiong anticipating a midterm pivot back to the more durable legal frameworks of Sections 301 and 232.

Sean Stein, president of the US-China Business Council, said he hopes that future trade talks can move beyond tariffs, tax rates and export controls to explore how the two economies can cooperate more effectively, enabling companies from both countries to better compete and operate in each other's markets.

"The US and China are the world's two largest, most technologically advanced and most dynamic economies. There are a lot of things that we need to get right on the economic front," Stein said.