US Vice President JD Vance offered messages aimed at easing tensions that rose on Friday following President Donald Trump’s announcement to raise tariffs against China to 100%.
Vance made the following statement in his press release:
- “We appreciate the friendship between President Trump and President Xi.”
- “President Trump hopes the US will not have to use ‘coercive power’ against China.”
- “President Trump is willing to engage in reasonable negotiations with China.”
These statements followed Beijing’s stern warnings to Washington, with China’s Commerce Ministry accusing Washington of escalating tensions after the Trump administration announced plans to impose 100% tariffs on Chinese imports and export controls on some critical software as of November 1.
“Threatening with high tariffs is not the right way to build healthy relations with China,” a ministry spokesperson said in a statement released by state news agency Xinhua. “China’s stance on the trade war is clear: We don’t want war, but we are not afraid of it.”
The spokesman also signaled possible retaliation, saying, “If the United States persists on the wrong path, China will take decisive action to protect its legitimate rights.”
*This is not investment advice.