'Unfortunate, Come to The Table For Talks': How US Reacted to China's 84% Retaliatory Tariffs on American Goods

Washington: The United States on Wednesday reacted sharply to China’s tit-for-tat move to impose a sweeping 84% retaliatory tariff on American goods, with Treasury Secretary Scott Bessent calling the move “unfortunate” and a “losing proposition” for Beijing.

Speaking to Fox Business Network, Bessent criticised China’s escalating trade stance, accusing it of undermining global trade norms rather than engaging in dialogue. “I think it's unfortunate that the Chinese actually don't want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said.

‘Come to The Table For Talks’ 

Bessent also cautioned China against attempting to “devalue their way out” of the tariff standoff, stressing the need for constructive negotiations. He urged Beijing to take decisive action against those involved in exporting fentanyl precursors to the United States — a longstanding concern raised by President Donald Trump .

For the unversed, the fentanyl crisis has been a persistent flashpoint in US-China relations, with Trump accusing China of failing to curb the flow of the deadly drug into American markets. In response, Chinese officials have accused the US of using the issue as a bargaining chip to justify tariffs, with the Chinese foreign minister previously dismissing such tactics as "blackmail."

Bessent further stated that US allies should consider how to collectively “rebalance” China’s influence in the global economic system.

China's 84% Retaliatory Tariff on US Goods 

China reaffirmed its commitment to "fight to the end" in its intensifying trade standoff with the United States, announcing on Wednesday that it would raise tariffs on American goods to 84% starting Thursday.

In response to Trump's decision to increase tariffs on Chinese imports to a total of 104%, Beijing rolled out a series of retaliatory measures. These include filing a fresh complaint against the U.S. at the World Trade Organization and imposing tighter restrictions on American firms conducting business with Chinese counterparts.

“If the U.S. persists in escalating its economic and trade restrictions, China possesses both the resolve and the resources to take all necessary countermeasures and fight to the end,” the Ministry of Commerce declared in a statement accompanying its latest white paper on U.S.-China trade relations.  

Will China Negotiate With The White House?

The Chinese government has declined to confirm whether it is open to negotiations with the White House, even as several other nations have begun engaging in talks. On Friday, Beijing unveiled a new set of retaliatory measures — including a 34% tariff on all U.S. imports, export controls on rare earth minerals, and various other restrictions — in response to former President Donald Trump’s recently announced “Liberation Day” tariffs.

In turn, Trump escalated the trade offensive by imposing an additional 50% tariff on Chinese goods, declaring that negotiations with China were officially off the table.

11 American Companies Added to “Unreliable Entities” List 

As part of its latest countermeasures announced Wednesday, China added 11 U.S. companies to its “unreliable entities” list — a designation that bars Chinese firms from selling dual-use goods to them. Among the targeted firms are American Photonics and SYNEXXUS, both of which have ties to the U.S. military.

Despite the escalating tensions, Beijing has shown little interest in returning to the negotiating table. “If the U.S. truly wishes to resolve issues through dialogue and negotiation, it must approach talks with equality, mutual respect, and shared benefit,” Chinese Foreign Ministry spokesperson Lin Jian said at a press briefing on Wednesday.

Chinese state media has further criticized the U.S. for allegedly failing to uphold commitments made under the phase one trade agreement signed during former President Donald Trump’s first term. One example cited is a U.S. law mandating the sale of TikTok by its Chinese parent company, ByteDance, or face a nationwide ban — a move Beijing argues violates a provision that prohibits either country from coercing technology transfers.

While Trump recently signed a temporary extension allowing TikTok to continue operating in the U.S. for an additional 75 days, negotiations over a potential sale to American buyers remain stalled. According to reports, ByteDance has contacted the White House, signaling that Beijing will not authorize the sale without broader talks addressing trade and tariff concerns.

Additionally, Chinese officials have challenged Washington’s narrative on trade imbalances, arguing that when factoring in services and the operations of U.S. businesses within China, the overall economic relationship is relatively even. According to Chinese data, China recorded a $26.57 billion trade deficit with the U.S. in services in 2023, a sector encompassing banking, insurance, and accounting.

Officials noted that the Trump-era tariffs were largely based on physical goods alone, overlooking the broader economic exchange that includes services and cross-border business activities.