China does not want to fight tariff and trade wars but is not scared of them, said Foreign Ministry spokesman Lin Jian at a press briefing in Beijing on Wednesday.
Lin made the statement in response to a query about the White House's statement claiming China now faces up to a 245 percent tariff on imports to the United States on China as a result of its retaliatory actions.
"You can ask the U.S. side for the specific tax rate figures. China has repeatedly stated its solemn position on the tariff issue. The tariff war was initiated by the U.S., China has taken necessary countermeasures to safeguard its legitimate rights and interests and international fairness and justice, which is completely reasonable and legal. Tariff and trade wars have no winner. China does not want to fight these wars but is not scared of them," said Lin.
China not scared of trade, tariff wars: spokesman
China not scared of trade, tariff wars: spokesman
China not scared of trade, tariff wars: spokesman
Major U.S. firms have decided to withdraw or suspend the publishing of their financial projections amid the rampant uncertainty brought on by President Donald Trump's broad implementation of tariffs.
One of the three largest U.S. car manufacturers Stellantis announced on Wednesday that it will suspend its 2025 financial guidance due to uncertainties caused by tariffs.
JetBlue Airways also stated in its report on Tuesday that the company will withdraw its full-year guidance "given the macroeconomic uncertainty".
Its CEO Joanna Geraghty said in the announcement that the enterprise has been considering cutting down capacity and rearranging its aircraft retirement schedule.
U.S. media outlets also reported that enterprise executives, regardless of their political preferences, remain anxious over current and apparently impending tariff policies, as well as other Trump administration policies.
The Wall Street Journal reported Tuesday that in a survey of over 300 senior corporate executives, 84 percent of respondents said they were concerned about the possible impacts of the current political and legal environment in the United States on their business, while 45 percent of business leaders thought that the recent policies rolled out by the U.S. government have damaged their company's competitiveness.
US companies suspend financial projections due to tariffs
