“If the U.S. insists on substantively damaging China’s interests, China will firmly retaliate and fight to the end,” China’s State Council said in a statement.
The move came after Trump increased the levies on Chinese goods to 145 percent on Wednesday, while also announcing that the tariffs he had previously imposed on more than six dozen other countries would be fixed at 10 percent during a 90-day pause.
The State Council derided Trump’s move to continue ratcheting up the levies and said it would ignore further hikes. The tariffs “no longer have any economic significance,” its statement said, because the current levels make U.S. exports to China not financially viable. The new Chinese tariffs, which increased from 84 percent, are effective Saturday.
Experts in Beijing expressed concern about the latest turn in tensions with Washington. “U.S.-China trade will soon be almost nonexistent,” said Shi Yinhong, an international relations professor at China’s Renmin University. “To ease tensions, Trump must first make concessions.”
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
