U.S. Tariff Hikes Set Up New Roadblocks, Say Chinese State Media
U.S. Tariff Hikes Set Up New Roadblocks, Say Chinese State Media
(Bloomberg) -- The U.S tariff hikes on China are bullying acts that set up new roadblocks to reaching a trade deal, the People’s Daily said in an editorial.
China has been forced to take “rational and restrained counter measures” in response to the escalating trade tensions with the U.S., whose acts are “provocative” in nature, the state-run newspaper said Sunday. “China is confident in pursuing its own path and doing its own business well, and will firmly oppose any inflammatory stance by the U.S.”
The trade war between the two nations escalated Friday after China said it would impose retaliatory tariffs on another $75 billion of U.S. goods. President Donald Trump responded by announcing additional levies on Chinese imports and called for American companies to pull out of Asia’s largest economy.
“China urges the U.S. to stop their wrongdoing right away or all the consequences will be borne by the U.S.,” China’s Ministry of Commerce said in a statement Saturday.
The latest Chinese tariffs include levies on soybeans, pork, cotton and crude oil. Beijing’s move takes aim at the heart of Trump’s political support -- factories and farms across the Midwest and South -- at a time when the U.S. economy is showing signs of slowing down.
To contact Bloomberg News staff for this story: Tongjian Dong in Shanghai at tdong28@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Andrew Janes, Linus Chua
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