(Joe McDonald – Associated Press)
China rejected “threats and blackmail” ahead of a threatened U.S. tariff hike, striking a defiant stance Thursday in a dispute companies worry could flare into a full-blown trade war and chill the global economy.
A government spokesman said Beijing will defend itself if U.S. President Donald Trump goes ahead Friday with plans to raise duties on $34 billion of Chinese goods in the escalating conflict over technology policy.
The dispute reflects foreign frustration with China’s state-led industrial development strategy, which Washington, Europe, Japan and other trading partners say hurt their companies and violate its market-opening commitments. Americans worry that rising Chinese technological prowess might erode U.S. industrial leadership and prosperity.
Chinese President Xi Jinping’s government has issued a list of U.S. goods for possible retaliation, but the Commerce Ministry said it will wait to see what Washington does. Click here to read more.
- Trump’s Trade War With China is Finally Here — And it Won’t be Pretty, Analysts Say (WP)
- Beijing Will Not Fire ‘First Shot’ In Trade War (China Daily)
- China Shows Resolve as it Prepares For U.S. Tariffs (Global Times)
- In Tariff Fight With Trump, China Scraps Plan to Strike First (Wall Street Journal)
- As U.S.-China Tit-For-Tat Tariffs Approach, Here’s What Could Happen (Los Angeles Times)
- China May be Disrupting U.S. Companies Because of Trump’s Tariff Threats (Business Insider)