China has challenged the United States’ tariff demands by urging other nations to stand up and resist pressure. Foreign Minister Wang Yi accused Washington of acting like a bully, stating that appeasement only strengthens the U.S. leverage against countries worldwide. Speaking at a BRICS gathering in Rio de Janeiro, he emphasized that using tariffs as bargaining chips fuels exorbitant price hikes for all nations involved.
Wang urged developing nations to not remain silent, compromising or cowering. He warned this will encourage the U.S. to further challenge them, urging for assertive action instead.
To reinforce his message, the Chinese Foreign Ministry released a video with bilingual subtitles on Tuesday. The video states “China won’t kneel down” and asserts standing up for its interests keeps possibilities of cooperation alive while compromise extinguishes those opportunities.
Chinese markets showed mixed signals, with Asian stocks inching higher after China raised its yuan daily reference rate and Hong Kong shares climbing 1.1 percent. However, mainland stocks edged downwards in the afternoon trade, with volume remaining below average. China’s stance is that it will defend free trade while responding to U.S. tariffs.