(Tom Daly & Steve Holland – Reuters)
China warned on Friday it was fully prepared to respond with a “fierce counter strike” of fresh trade measures if the United States follows through on President Donald Trump’s threat to slap tariffs on an additional $100 billion in Chinese goods.
In light of China’s “unfair retaliation” against earlier U.S. trade actions, Trump upped the ante on Thursday by ordering U.S. officials to identify extra tariffs, escalating a high stakes tit-for-tat confrontation with potentially damaging consequences for the world’s two biggest economies.
China’s Commerce Ministry spokesman, Gao Feng, called the U.S. action “extremely mistaken” and unjustified, adding that the spat was a struggle between unilateralism and multilateralism. He also said no negotiations were likely in the current circumstances. Click here to read more.
- Global Stocks Remain Pressured by US-China Trade Spat (Associated Press)
- Why China Is Confident It Can Beat Trump in a Trade War (New York Times)
- Trump States Would be Hit Hard by New Chinese Tariffs (CNBC)
- Chinese Visitors Can Hit Nerve Tariffs Don’t Reach (Reuters)
- Senator Ben Sasse Says if Trump is ‘Even Half-Serious’ on Tariffs, His Plan is ‘Nuts’ (The Week)