China Dismisses Trump’s “Tariff Numbers Game” as Trade War Threatens Global Economy

China’s Ministry of Foreign Affairs has dismissed President Donald Trump’s “tariff numbers game,” responding to a White House fact sheet suggesting Chinese exports could face tariffs as high as 245 percent, as per Al Jazeera.

The statement underscores the escalating tensions between the two economic superpowers, with mounting concerns about the detrimental impact on global trade and economic growth.

The White House fact sheet detailed the potential tariff burden, including Trump’s recent 125 percent and earlier 20 percent tariffs imposed over alleged Chinese failure to curb fentanyl exports to the US. It also mentioned potential duties ranging from 7.5 percent to 100 percent stemming from national security reviews initiated under the Trade Act of 1974.

Beijing’s reaction mirrors a previous statement from the Ministry of Finance, which labeled Trump’s escalating tariffs a “joke” lacking “any economic significance.” China currently levies tariffs of 125 percent on US goods, and has also implemented non-tariff punitive measures, such as restricting the release of Hollywood films.

Economists warn that if these tariffs are not eased, they could effectively halt most trade between the US and China due to the prohibitive increase in costs.

The global implications of this trade war are becoming increasingly apparent. The World Trade Organization (WTO) issued a stark warning on Wednesday, projecting a 0.2 percent decline in the volume of global trade for 2025 under current conditions. This figure is significantly “nearly three percentage points lower” than a low-tariff baseline scenario.

The WTO further cautioned that the spillover effects of Trump’s “reciprocal tariffs,” largely paused until July, could lead to an “even sharper decline of 1.5 percent in global goods trade and hurt export-oriented least-developed countries.”

Adding to the concerns, the UN’s Trade and Development (UNCTAD) office has revised its global growth prediction downwards from 2.5 percent to 2.3 percent in 2025. The UNCTAD assessment notes that growth below the 2.5 percent threshold often signals an impending global recession.