Trump threatens China with new $100b tariffs

BEIJING TO RESPOND WITH ‘FIERCE COUNTER STRIKE’ AS SPAT WORSENS

China warned yesterday 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 US trade actions, Trump upped the ante on Thursday by ordering US 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 US 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.

“If the United States announces an additional $100 billion list of tariffs, China has already fully prepared, and will not hesitate to immediately make, a fierce counter strike”.

Trump defended his proposed tariffs on US radio, saying the move might cause “a little pain” but the United States will be better off in the long run.

Trump also blasted the World Trade Organisation, saying the international trade body was “unfair” to the US while giving China “tremendous perks and advantages” but he offered no evidence or examples to back up his claim.