China accuses US of protectionism, economic bullying with new tariffs

China on Monday accused the US of unilateralism, protectionism and economic bullying with tariffs, while calling on representatives of American companies including Tesla, to take concrete actions to resolve the tariffs.

Putting America First over international rules harms the stability of global production and the supply chain and seriously impacts the world's economic recovery, Foreign Affairs spokesperson Lin Jian told reporters.

Last week, Trump put an additional 34 per cent tariff on Chinese goods as part of Liberation Day, coming on top of two rounds of 10 per cent tariffs already declared in February and March, which Trump said was due to Beijing's role in the fentanyl crisis. China and other governments retaliated quickly. China announced its own 34 per cent tariff rate on US goods, mirroring Trump's tariff rate for China.

On Monday, Beijing struck a note of confidence even as markets in Hong Kong and Shanghai tumbled. The People's Daily, the Communist Party's official mouthpiece, had strong words. The sky won't fall, it declared, even if the US tariffs have an impact.

Faced with the indiscriminate punches of US taxes, we know what we are doing and we have tools at our disposal," it added.

Beijing had announced a slew of countermeasures Friday evening aimed at Trump's tariffs. As part of these measures, China suspended sorghum, poultry and bonemeal imports from some American companies, and put more export controls on rare earth minerals, critical for various technologies, while launching a lawsuit at the World Trade Organization.

It is unknown if China's leader, Xi Jinping, will meet with Trump to make a deal on the tariffs. Lin directed questions about a possible meeting to other departments.

Pressure and threats are not the way to deal with China. China will firmly safeguard its legitimate rights and interests, Lin added.

Still, over the weekend, Chinese government officials met a slew of American business representatives including for Tesla, GE Healthcare and others.

The root of the tariff problem is in the US, said Ling Ji, a vice minister of Commerce, at the meeting with the 20 American companies, according to a readout of the meeting. "We hope the American companies can address the problem at its root, ... issue reasonable statements, take concrete actions, and work together to safeguard the stability of the global supply chain.

Ling also promised that China will remain open to foreign investment and that it was safe to invest.