Trade war with China starts today
BEIJING — President Donald Trump’s first tariffs are scheduled to hit $34 billion of Chinese imports on Friday, and Beijing plans to swiftly respond with levies on an equal amount of goods. Border officers here could receive the order as early as midnight to slap new taxes on hundreds of American products, including pork, poultry, soybeans and corn.
And so would begin an unprecedented commerce battle between the world’s two largest economies — a conflict analysts fear could rattle markets, cripple trade and undermine ties between the United States and China at a time when the administration seeks Beijing’s co-operation on North Korea.
As the global business community watches the clock, China is moving to pin the fallout on Trump, framing the United States as a bully the Asian nation is forced to confront. A state media editorial this week called America’s “dictatorial bent” a global threat, while officials said China will “absolutely not” take the first swing.
“As long as the U.S. side rolls out its tariffs list, China will respond with all necessary measures to firmly safeguard our legitimate rights and interests,” Foreign Ministry spokesman Lu Kang told reporters Wednesday.
Those measures appear to be aimed at America’s heartland, which helped lift Trump into the White House. Farmers in the overwhelmingly red Midwest fear they’ll lose access to China’s lucrative market and be left with the bill for excess produce and livestock.
What happens next is anyone’s guess, analysts say.