CNN: China: 'The US has launched a trade war'
The world's two biggest economies are now at war over trade.
China accused the United States of firing the first shot on Friday when the White House said that it would impose tariffs of 25% on $50 billion worth of Chinese goods.
The announcement confirms a threat first made by President Donald Trump in March and follows months of trade talks between the two sides. A truce was announced in May but it proved short-lived.
"The United States has kept changing its mind and now launched a trade war," China's Commerce Ministry said in a statement.
The Chinese government said it would respond in kind to the US tariffs, which will apply to roughly 1,100 exports and will target China's aerospace, robotics, manufacturing and auto industries.
Read more ....
More News On China Declaring The U.S. Has Started A Trade War
China announces equal penalties to retaliate for US tariffs -- AP
China imposes equal tariffs on US imports in retaliation -- AFP
China vows fast response to US tariffs -- BBC
China pledges to 'immediately' retalliate to Donald Trump's latest tariffs -- DW
China ‘ready to hit back’ at Donald Trump’s tariffs -- SCMP
China to retaliate after US imposes tariffs worth $50bn -- Sputnik
5 comments:
China will lose this one. Especially now as the US economy is twice the size of China. And we know that China has faked is gdp by up to 30%. And China has debt issues bigger than US. And on top China's growth projections are underperforming while the US is rocking hard.
Xi will embarrass himself if he doesn't find common ground quickly. The US could burn through a few trillion and still keep punching because they're doing stellar at the moment with no economy comparing to it. I give Xo a week or two at most to realise this and fire a few of his advisers, blame it on them and save face ..Trump will likely do some symbolic gesture like hosting him or calling him a great man. If Xi doesn't take the quick exit to deescalate he'd be seriously hurting Chinese growth over years to come because Trump won't back down and when it comes to China the US population will back him. China is not very popular at the moment anywhere you go and the US is certainly no exception.
China coming off the decades of financial heroine provided by the U.S they’ll come to in short order and realize it couldn’t have gone on forever
Agreed.for decades people claimed china's rise is unstoppable. Well turns out that America is undergoing something no other economy in the world does and that it's actually the US economy that's winning. .. You have less than 25% people (350mn comparedto 1.5bn) in the US compared to China, but gdp is at least twice as big given the gdp faking China was called out for. So 1 American produces/earns as much as 8 Chinese. And that's not even amounting for the trillions stolen by China and the hundreds of billions in trade deficit and WHO violations. Why should we treat a thieving 2nd world country like China with kitty gloves? We tried being respectful for decades. We helped them against Russia (remember when USSR saw china as a threat and wanted to nuke them before it's too late? The US protected China by saying to the USSR back then that any nuclear strike would be seen as a strike on them. .which was unheard of then. Any thanks? Nope. Instead. .stealing, hacking, Landgrabbing, bullying, militarising of international waters and the list goes on. .human rights violations... environmental disasters China caused (just ask Vietnam about why all their fish in the north died last year)... on top China has been arming north Korea. .so I ask. .which country has been doing more harm, has been stealing more than China? And now they're even going to full authoritarian mode... great Firewall of China to block outside information coming in. ..Life long ruler Xi, a social point system to supress and eradicate ("relocate") people. ..if it's not clear that the US and its western allies (together exceeding 50trillion/year) are going to full collision course with 11trillion China and how this will end, you're blind. Capital and brains has always left authoritarian systems. As if China is still an infant and doesn't learn. 20 years ago I believed in the China myth. Now I'm pulling my money out because it is crystal clear they are digging a hole they are not coming out of and the next 2 decades won't be good for china at all. Once we learn how much they cooked their books and tried to blind us with skyscrapers ("they're building, they must be doing great") the game is over. We already know that up to 20% of the sky scrapers we're built without proper building codes at the height of the rush in the early 2000s. Means you have thousands (not hundreds), thousands (!) Of skyscrapers that are unsafe and need to be torn down. Who'll pay for that? And what about the ghost cities that were built so people come? Lol market planning at its best. It's over
About time!!
Post a Comment