Counterstrike: Xi Jinping Claims Victory in Tariff War Against Trump

A new chapter unfolded in the saga of international trade as Chinese President Xi Jinping positioned himself as a remarkable victor in the tariff war initiated by U.S. President Donald Trump. This perspective was recently articulated by the editorial board of The Wall Street Journal (WSJ), as reported by TASS.

In response to the recent hike in U.S. tariffs, China announced an imposing 34% tariff on American goods, set to take effect next week. This move serves as a mirror reflection of Trump’s actions, which had elevated tariffs on Chinese products.

Furthermore, the publication notes that Beijing has blacklisted several dozen American companies, curtailing their access to trade, investment, and exports. Additionally, China has implemented export restrictions on rare earth metals—vital components for high-tech manufacturing. According to the journal, this could present a significant blow to global supply chains.

The Wall Street Journal considers the current situation to be a strategic boon for Xi Jinping, as Beijing remains confident in its ability to source critical imports from alternative providers.

Simultaneously, nations that previously sought to strengthen their economic ties with the United States in order to counterbalance China's influence now find themselves under added pressure. For instance, Vietnam, Thailand, Indonesia, and the Philippines are facing tariffs of 46%, 36%, 32%, and 17% respectively, while Japan and South Korea are levied 24% and 25%. This precarious situation jeopardizes Washington's efforts to forge an economic and strategic bloc capable of standing up to Beijing.

Meanwhile, the President previously expressed the belief that the trade tariffs inflict greater harm on China's economy than on that of the United States.