US Imposes Reciprocal Tariffs, China Responds With Countermeasures

The recent implementation of reciprocal tariffs by the United States, ranging from 10% to 50%, has sparked significant debate among trade experts and multinational companies. While some view the 29% tariff as an opportunity for Pakistani exporters to innovate and become a processing hub for higher-tariff countries, others caution against retaliatory measures, emphasizing the need to maintain duty-free access to the EU under the GSP+ scheme. Ehsan Malik from the Pakistan Business Council stressed that Pakistan's export capabilities must improve to compete effectively, particularly in light of the growing demand for environmental and social governance standards. Meanwhile, the Chinese government condemned the U.S. tariffs as unilateral and harmful to global trade, arguing that they violate WTO rules and threaten the stability of the international economic order. As reactions unfold, the potential for retaliatory measures poses risks for U.S. industries and consumers, who may face increased costs due to these tariffs. Overall, the situation highlights the complexities of international trade dynamics and the differing perspectives on tariff policies.