Chinese envoy warns US tariffs risk repeating great depression mistakes
In a pointed and symbolic speech in Washington, China’s ambassador to the United States, Xie Feng, warned that escalating tariffs on Chinese goods risk repeating the economic catastrophes of the past, drawing a direct comparison to the infamous Smoot-Hawley Tariff Act that deepened the Great Depression of the 1930s. His remarks, delivered at a Traditional Chinese Medicine (TCM) event on April 19, underscore Beijing’s growing concern with the rising trade hostilities and the potential global consequences of America’s protectionist policies.
Amid the intensifying US-China trade war, Ambassador Xie invoked both historical and philosophical warnings, urging Washington to take a more balanced approach in its economic dealings with China. His speech reflected Beijing’s dual strategy: extending a hand of diplomacy while signaling readiness for retaliation.
The current trade standoff comes as part of a broader US campaign targeting dozens of countries with elevated tariffs. While most nations received a temporary 90-day reprieve from these tariffs, China was conspicuously excluded. The overall tariff burden on Chinese goods has now surged to an astonishing 145%, triggering a tit-for-tat response from Beijing. In retaliation, China has imposed 125% tariffs on imports of American products and restricted the export of critical minerals that are essential for the high-tech manufacturing sectors in the United States and beyond.
These minerals, including rare earth elements vital to the production of semiconductors, batteries, and electric vehicles, represent a strategic chokepoint in global........
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