China blasts U.S. tariffs as ‘protectionist bullying’

The Chinese Commerce Ministry issued a stern statement Saturday saying that it “firmly opposes” the Trump administration’s decision to increase tariffs on $550 billion worth of Chinese imports, calling it “protectionist bullying.”

The latest development in the escalating U.S. trade war with China took place as President Donald Trump and the leaders of some of the United States’ closest allies arrived in France for the Group of Seven summit.

The Chinese statement followed a flurry of exchanges between Beijing and the Trump administration on Friday, starting with Beijing announcing it would impose new tariffs on $75 billion in goods, including reinstating levies on auto products. Hours later, Trump tweeted that he would respond by raising the rates of existing and planned tariffs, saying, “We don’t need China and, frankly, would be far better off without them.”

Trump also demanded that U.S. companies stop doing business with China, prompting rebukes from American businesses and trade groups.

By the end of the trading day Friday, the Dow Jones industrial average had fallen 600 points, or nearly 2.4 percent.

The White House did not respond Saturday to a request for comment on the Chinese statement, which also urged the United States “to not misjudge the situation, to not underestimate the determination of the Chinese people, and to immediately stop its wrongdoings.”