The Chinese government on Tuesday threatened to retaliate against the latest additional tariffs imposed on its goods by United States President, Donald Trump.
China’s Commerce Ministry accused the US of initiating a trade war, saying it would retaliate and fight back firmly with qualitative and quantitative measures if the US publishes an additional list of tariffs on Chinese goods.
US President Donald Trump had on Monday threatened to impose a 10 per cent tariff on $200 billion worth of Chinese goods, a move he said was in retaliation for China’s decision to raise tariffs on 50 billion dollars worth of American goods.
“Such a practice of extreme pressure and blackmailing deviates from the consensus reached by both sides on multiple occasions, and is a disappointment for the international community,” a statement by the ministry said.
“The US has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the US, but of the world. If the United States publishes a new list of tariffs, Beijing will take strong counter measures to safeguard the interests of China and its people,” it added.
Last week, Trump announced that the US would impose 25 percent tariffs on 50 billion dollars worth of Chinese goods and China responded by saying it would hit 659 US products worth 50 billion dollars, including agricultural products, cars and marine products.
The US tariffs already announced affect more than 800 Chinese products ranging from aircraft tyres to turbines and commercial dishwashers worth 34 billion dollars in annual trade and are expected to come into effect on July 6.
The US asked China to stop practices that allegedly encouraged the transfer of intellectual property – design and product ideas – to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.
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