China’s response to President Trump’s new round of tariffs was muted. Beijing issued a statement in protest, but unlike in past rounds of tit-for-tat, it did not lob a counter.

中国对特朗普总统新一轮关税的反应较为低调。北京发表了一份抗议声明，但与以往针锋相对的回合不同，此次没有采取反制措施。

China has cause to be low key. It has so far emerged from the trade war with the United States in a better position. One year ago President Trump threatened tariffs on Chinese goods as high as 145 percent. The levies that Mr. Trump imposed on Chinese goods on Friday were just 12.5 percent.

中国有理由保持低调。到目前为止，中国在与美国的贸易战中处于更有利的地位。一年前，特朗普总统曾威胁要对中国商品征收高达145%的关税。而上周五特朗普对中国商品征收的关税仅为12.5%。

Factoring in earlier tariffs, including those from Mr. Trump’s first presidency, the overall average weighted tariff on Chinese goods is now 23.1 percent.

考虑到早先的关税，包括特朗普首个任期内征收的关税，目前对中国商品的总体平均加权关税为23.1%。

Chinese officials are also confident that tariffs will not rise much further, after securing an assurance of a truce from U.S. trade negotiators. That agreement, which trade experts have placed at about a 20 percent cap, was later sealed with a handshake between China’s top leader, Xi Jinping, and Mr. Trump last October.

在获得了美国贸易谈判代表关于休战的保证后，中国官员也确信关税不会再大幅上涨。后来在去年10月，中国最高领导人习近平与特朗普握手正式敲定了一份协议。据贸易专家估算，该协议的关税上限约为20%。

The new tariffs will “have a limited impact on China at present,” according to analysts at Guojin Securities, a financial firm in Chengdu, China, who calculated the new overall tariff rate. The rate was previously 21.9 percent.

位于成都的金融机构国金证券的分析师计算了新的总体关税税率，他们表示，新关税“目前对中国的影响有限”。此前的税率为21.9%。

The tariffs imposed on China are part of Mr. Trump’s broader effort to transform global trade. On Friday, the administration issued tariffs on more than 80 trading partners over claims of failing to pass or enforce laws banning forced labor. The new tariffs, which were between 10 percent and 12.5 percent, replaced a global 10 percent tariff as it expired.

对中国征收的关税是特朗普重塑全球贸易这一更广泛举措的一部分。周五，美国政府声称超过80个贸易伙伴未能通过或执行禁止强迫劳动的法律，对这些伙伴征收了关税。这些新关税介于10%到12.5%之间，取代了随着到期而失效的10%的全球关税。

The White House issued the duties under Section 301 of the Trade Act of 1974, which allows the president to impose tariffs on foreign countries that engage in unreasonable or discriminatory trade practices. More tariffs are expected in the coming weeks, after an administration proposal to offset what the White House calls unfair practices in several countries’ manufacturing sectors — including China. This month, Mr. Trump also imposed a 25 percent tariff on certain products from Brazil that just took effect, and has threatened a 50 percent tariff on many Canadian goods starting in August. For both countries, the new tariffs could push their effective rates above China’s.

白宫根据《1974年贸易法》第301条款发布了这些关税，该条款允许总统对从事不合理或歧视性贸易做法的外国征收关税。美国政府提出了一项提案，旨在抵消白宫所称的包括中国在内的多个国家制造业领域的不公平做法，预计未来几周还会出台更多关税。本月，特朗普还对巴西的某些产品征收了刚刚生效的25%关税，并威胁从8月开始对许多加拿大商品征收50%的关税。对于这两个国家来说，新关税可能会使其有效税率超过中国的税率。

中国官方媒体周五将特朗普政府的政策称为“美国无休止的关税”，并称华盛顿“又找到了滥用关税的新借口”。

None of those tariffs are expected to top those announced by Mr. Trump under an international emergency law on April 2, 2025, which he termed “Liberation Day.” The Supreme Court struck down Mr. Trump’s use of the law to impose tariffs in February.

预计这些关税都不会超过特朗普于2025年4月2日根据一项国际紧急状态法宣布的关税规模，他将那一天称为“解放日”。 最高法院已于2月裁定特朗普援引该法征收关税的行为无效。

On Friday, Chinese state media called the Trump administration’s policy “America’s never-ending tariffs,” and added that Washington “has found a new pretext for abusing tariffs.”

上周五，中国官方媒体将特朗普政府的政策称为“美国永无止境的关税”，并补充说华盛顿“找到了滥用关税的新借口”。

The foreign ministry showed more restraint. At a regular news conference on Friday, a spokesman said China opposed “all forms of unilateral tariffs,” but he did not respond when asked whether the country would retaliate.

中国外交部则表现得更为克制。在周五的例行记者会上，一位发言人表示，中国反对“各种形式的单边关税措施”，但当被问及中国是否会进行报复时，他没有做出回应。

China may take comfort in a perceived promise by Mr. Trump to cap tariffs, trade experts said.

贸易专家表示，中国认为特朗普给出了限制关税的承诺，这让其感到宽慰。

“My understanding is that there is a ‘wink, wink, nod, nod’ on 20 percent additional tariffs and through these 301 investigations, any findings on China would conveniently not exceed that,” said Wendy Cutler, a senior vice president at the Asia Society Policy Institute.

亚洲协会政策研究所高级副总裁温迪·卡特勒说：“我的理解是，双方对20%的额外关税有一种‘心照不宣’的默契，并且通过这些301调查，任何针对中国的裁定都会恰好不超过这个数字。”

Anything more than a 7.5 percent tariff on China in the next round would risk the fragile truce and invite retaliation, she added. Mr. Trump said Mr. Xi will visit Washington in September.

她还说，在下一轮关税中对中国征收任何超过7.5%的关税都会使脆弱的贸易休战面临风险，并招致报复。特朗普表示，习近平将于9月访问华盛顿。

Trade negotiators set that ceiling last year during U.S.-Chinese trade talks in Kuala Lumpur, the Malaysian capital. Mr. Trump and Mr. Xi shook on the terms of a trade deal in South Korea several days later, agreeing to a tariff truce for one year.

去年在马来西亚首都吉隆坡举行的美中贸易谈判中，贸易谈判代表设定了这一上限。几天后，特朗普和习近平在韩国就贸易协议条款握手达成共识，同意实施为期一年的关税休战。

During meetings with Mr. Xi in Beijing in May, Mr. Trump said the two did not discuss tariffs.

在5月于北京与习近平会面期间，特朗普表示，两人没有讨论关税问题。

But China’s commerce ministry pushed back on his comments, saying in a statement that the United States and China had “engaged in in-depth discussions on tariffs.” The ministry added that it hoped Washington would “honor its commitments” and ensure that the U.S. tariff levels on Chinese goods would “not exceed the level stipulated” during talks in October.

但中国商务部反驳了他的说法，在声明中表示中美已“围绕关税问题深入沟通”。商务部还称，希望华盛顿“信守承诺”，确保美国对中国商品的关税水平“不能超过”10月份会谈期间“约定的水准”。

Trade experts said Beijing was drawing a line on tariff rates after a year of standing up to Washington, matching each of Mr. Trump’s ever-higher tariffs with its own and tightening control over rare-earths exports. China dominates the global supply chains for rare earths, materials that are critical to everything from fighter jets to motors in car seats.

贸易专家表示，在对抗华盛顿一年之后，北京正在对关税税率划出底线。在过去的一年里，北京对特朗普不断提高的各项关税采取了相应的同等反制措施，并加强了对稀土出口的控制。中国主导着全球稀土供应链，这种材料对于从战斗机到汽车座椅电机等一切产品都至关重要。

“My personal understanding is that during the remainder of Trump’s term, there probably won’t be sharp, comprehensive tariff increases again,” said Tu Xinquan, dean of the China WTO Institute at the University of International Business and Economics in Beijing.

北京的对外经济贸易大学中国WTO研究院院长屠新泉表示：“我个人的理解是，在特朗普剩余的任期内，可能不会再出现大幅、全面的关税增长。”