Trade skirmish continues to escalate between world’s two biggest economies
The Trump administration has said it would slap 10% tariffs on an extra $200bn worth of Chinese imports, prompting Beijing to promise to “fight back as usual” in an announcement that brings the two countries closer to the brink of a full-out trade war .
The administration released a wide-ranging list of Chinese goods it proposes be hit with tariffs, including hundreds of food products as well as tobacco, coal, chemicals and tyres, dog and cat food, and consumer electronics including television components.
China and the US officially launched a trade war on 6 July. After months of threats and negotiations, the US implemented tariffs of 25% on $34bn in Chinese goods. Within minutes, China’s ministry of commerce said Beijing was being “forced to fight back”.
Link : China vows to retaliate as US threatens tariffs on further 0bn of goods