‘China is not afraid of and will not recoil from a trade war’: China strikes back at Trump with new tariffs as trade fight escalates

economy

Jonathan Ernst/Reuters

  • President Donald Trump announced new tariffs on $50 billion worth of Chinese goods on Thursday.
  • Chinese officials strongly condemned the move.
  • “China does not want a trade war with anyone,” the Chinese Embassy in Washington, DC, said.
  • “But China is not afraid of and will not recoil from a trade war.”

The Chinese government blasted President Donald Trump’s announcement on Thursday that the US will impose new tariffs on imports from China and said they would introduce their own trade barriers in response.

Trump’s tariffs, which act as a tax on imports, will apply to goods worth about $50 billion annually and hit industries from aerospace to pharmaceuticals. Additionally, the crackdown will limit certain types of Chinese investment into the US.

See the rest of the story at Business Insider

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SEE ALSO: Trump just slammed China with tariffs on $50 billion worth of goods in a move that ‘could escalate into a global trade war’


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