Trump Tariff on China, news by Hebei Longsheng
| The world’s two biggest economies threatened punishing tariffs in the opening shots of a trade war, with Beijing vowing to retaliate “forcefully” against President Donald Trump’s pledge to slap duties on another $200 billion in Chinese imports. Global stocks declined amid little sign of negotiations to resolve the dispute.
In remarks in Washington on Tuesday, Trump signaled skepticism that talks with China will work to end the disagreement. We have to do something about it. Now, maybe something happens where they come and they say, ‘we agree, it’s been unfair for the last 25 years,”’ he told the National Federation of Independent Business. “But somehow that doesn’t seem to work so easily. But we’re going, and we’re going to make it fair.”
Trump on Monday evening ordered up identification of $200 billion in Chinese imports for additional tariffs of 10 percent -- with another $200 billion after that if Beijing retaliates. While the $50 billion in tariffs already announced on Friday were mainly on industrial goods, the broader move would push up prices for toys, tools, t-shirts and a lot more for U.S. shoppers. China promised to retaliate. “If the U.S. loses its senses and publishes such a list, China will have to take comprehensive quantitative and qualitative measures,” according to a statement from the Ministry of Commerce. It labeled the move “extreme pressure and blackmail.”
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