Trump reacts to China's retaliatory tariffs.
Responding to China's retaliatory tariffs, Trump said that China had "panicked and acted wrongly."
According to RIA Novosti, US President Donald Trump said on April 4 that China had "played the wrong game" and was "panicking" when it imposed retaliatory tariffs.
"China played it wrong, they panicked, and they can't let that happen," President Trump wrote on the social media platform Truth Social.
Earlier on April 4, the Chinese State Council announced the imposition of an additional 34% tariff on all goods from the United States. The resolution took effect on April 10. This decision by the Chinese authorities was a response to similar actions by the US administration.
The US has imposed a 25% tariff on imports from Mexico and Canada. Similar measures have also been applied to products from China, raising the tariff by an additional 20%. Washington explains these measures as a way to combat illegal immigration and the supply of fentanyl.
Immediately after the US President announced new global tariffs, the United Nations Conference on Trade and Development (UNCTAD) stated in a declaration that the global trading system is entering a critical phase, facing threats to growth, investment, and development.
The document states: "With major economies on the verge of implementing disruptive new tariffs, UNCTAD warns that the global trading system is entering a critical phase that threatens growth, investment and development, particularly for the most vulnerable economies."
