Donald Trump’s latest tariffs risk destroying trade between China and the US, warns Beijing
China issues warning as it vows to retaliate after Washington slaps further tariffs on US$200 billion worth of goods
China has promised to retaliate to the latest US tariffs, but warned that the escalating confrontation risks “destroying” trade between the two sides.
The US Trade Representative Office said on Tuesday that it was starting a process to levy 10 per cent of tariffs on US$200 billion worth of Chinese products.
The final list – covering a wide range of products including refrigerators, furniture and even antiques – will be announced after public hearings in late August.
The announcement was a response to China’s decision to impose 25 per cent tariffs on US$34 billion of American goods last Friday in response to a similar US levy.
China’s Ministry of Commerce vowed to hit back at the latest tariffs on Wednesday, saying that it was “absolutely unacceptable” that the US was escalating the situation.
“China is shocked by the US move and the Chinese government, as always, will have to react to defend the core interests of our nation and people,” it said, adding it will make an additional complaint to the World Trade Organisation.
Li Chenggang, assistant minister of commerce, told a forum in Beijing on Wednesday that large-scale tit-for-tat tariffs would “inevitably destroy” China-US trade, and America’s actions would “damage the global economic order”.
