China seeks to ‘join hands’ with Australia to resist Trump

China wants to join forces with Australia in a bid to boost global trade amid the disruption caused by US President Donald Trump’s sweeping tariffs.

The move came as Trump raised the tariffs on Chinese imports to 125 per cent, while announcing a pause on his “reciprocal” tariffs to other nations.

Australian goods entering the US have been hit with a 10 per cent figure, described by the White House as a “baseline” tariff.

Now China’s ambassador to Australia Xiao Qian has called for Beijing and Canberra to work together in the hope of defending global free trade.

“Under the circumstances, China stands ready to join hands with Australia and the international community to jointly respond to the changes of the world,” he said.

“In the meantime, China is also committed to working with Australia to implement the strategic consensus reached by the leaders of our two countries.”

The ambassador said the Trump administration had “weaponised” trade issues and that tweaks to the tariffs imposed on other nations would not be enough to halt the damage to their economies.

China’s offer to work with Australia comes just five years after it imposed trade sanctions on Australian imports, which targeted goods such as barley, wine, beef, coal and seafood.

Trump’s escalating trade war also sparked an emergency meeting between the treasurer and the head of the Reserve Bank of Australia as interest rate cuts appear more and more certain.

Jim Chalmers yesterday stepped off the federal election campaign trail to meet with Michele Bullock as markets continued to roil in the face of Trump’s global tariffs.

On Friday, China announced a 34 per cent tariff on all goods imported from the US, export controls on rare earths minerals, and a slew of other measures in response to Trump’s “Liberation Day” tariffs.

Trump then added an additional 50 per cent tariff on goods from China, saying negotiations with them were terminated.

So far, China has not appeared interested in bargaining.

“If the US truly wants to resolve issues through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual benefit,” Ministry of Foreign Affairs spokesman Lin Jian said.

EU imposes new tariffs in retaliation

Before Trump’s backdown, the European Union said its tariffs would go into effect in stages, with some on April 15 and others on May 15 and December 1. The EU executive commission didn’t immediately provide a list of the goods.

Members of the 27-country bloc repeated their preference for a negotiated deal to settle trade issues

“The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy,” they said.

“The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial.”

The head of the EU’s executive commission, Ursula von der Leyen, has offered a zero-for-zero tariffs deal on industrial goods including cars. But Trump has said that’s not enough to satisfy US concerns.

The EU was also yet to comment on Trump’s latest tariff pronouncement.

-with Associated Press