A man checks his phone next to an electronic board showing stocks on the Heng Seng Index in Hong Kong on April 3, 2025.
China's Foreign Ministry on Saturday said "the market has spoken" following the U.S. imposition of sweeping new tariffs and called for the White House to defuse the escalating trade war through "equal-footed consultation."
U.S. stock markets fell sharply for a second consecutive day on Friday, with all three major indexes dropping by more than 5% as part of a global rout.
The market turmoil was exacerbated on Friday when China's Finance Ministry announced it would impose a 34% tariff on all goods imported from the U.S. starting on April 10.
Beijing's response ratcheted up investor fears of inflationary, recessionary and global economic growth risks.
"The market has spoken," Chinese Foreign Ministry spokesperson Guo Jiakun said in a post on Facebook on Saturday morning.
Sharing an image referencing Friday's U.S. stock market downturn, Guo said, "the trade and tariff war started by the U.S. against the world is unprovoked and unjustified."
He called on the White House to resolve differences with trading partners through "equal-footed consultation."
A White House spokesperson was not immediately available to comment when contacted by CNBC.
Greensentry on April 5th, 2025 at 13:25 UTC »
What the hell did Trump mean when he said China panicked and raised their tariffs? Did he expect China would do nothing and just take it? He’s really a moron without a plan.
No_Cucumber3978 on April 5th, 2025 at 13:21 UTC »
He always said the markets were the true barometer and pointed out Democrats for this exact thing.
He's not saying much now. People think he's some genius, when in reality, he's just a stupid tool for oligarchs to take advantage of.
All so he can eat in a better cafeteria.
PreacherCoach on April 5th, 2025 at 12:51 UTC »
This is not a bluff from Trump. He believes this is the b3st thing for Him. ( not the US... him)
A power vacuum has been created and there are lots of players willing to fill the void.
The market has indeed spoken and the world is adjusting. There is no going back at this point.