China strikes back at Trump, retaliating with new tariffs as it ‘firmly opposes’ US plan
China has fired back at President Trump’s latest round of tariffs, imposing new tariffs on US goods in retaliation. The move comes as tensions between the two economic giants continue to escalate, with both sides locked in a bitter trade war.
The Chinese government announced on Friday that it would impose tariffs on $75 billion worth of US goods, in response to the Trump administration’s plan to impose additional tariffs on $300 billion worth of Chinese imports. The new Chinese tariffs are set to take effect on September 1 and December 15, the same dates that Trump’s tariffs are scheduled to kick in.
In a statement, the Chinese Ministry of Commerce said that China “firmly opposes” the US plan to impose additional tariffs and will take “necessary countermeasures” to defend its interests. The ministry also accused the US of “bullying” and “unilateralism” in its trade policies.
The latest escalation in the trade war between the US and China comes just days after Trump announced plans to raise tariffs on Chinese imports in response to Beijing’s decision to impose tariffs on $75 billion worth of US goods. The tit-for-tat tariffs have rattled global markets and raised fears of a prolonged trade war that could harm the global economy.
The Trump administration has accused China of engaging in unfair trade practices, including intellectual property theft and forced technology transfers. The US has also criticized China for its massive trade surplus with the US, which Trump has vowed to reduce.
China, for its part, has denied the US accusations and has accused the Trump administration of using tariffs as a weapon to try to force Beijing to make concessions in trade negotiations. The two sides have been locked in trade talks for over a year, but have so far failed to reach a comprehensive trade deal.
The latest round of tariffs is likely to further strain relations between the US and China and could lead to more economic uncertainty for businesses and consumers in both countries. The escalating trade war has already had a negative impact on global growth and has raised fears of a global recession.
As the trade war continues to escalate, it is unclear how or when the two sides will be able to reach a resolution. Both the US and China have shown a willingness to escalate their trade dispute, and it remains to be seen how the conflict will ultimately be resolved.
