Reuters: China warns U.S. is 'opening fire' on the world with tariff threats
BEIJING (Reuters) - The United States is “opening fire” on the world with its threatened tariffs, China warned on Thursday, saying no one wants a trade war but it will respond the instant U.S. measures go into effect, as Beijing ramped up the rhetoric in the heated dispute.
The Trump administration’s tariffs on $34 billion of Chinese imports are due to go into effect at 0401 GMT on Friday, which is just after midday in Beijing.
U.S. President Donald Trump has threatened to escalate the trade conflict with tariffs on as much as $450 billion worth of Chinese goods if China retaliates, with the row roiling financial markets including stocks, currencies and the global trade of commodities from soybeans to coal.
China has said it will not “fire the first shot”, but its customs agency made clear on Thursday that Chinese tariffs on U.S. goods would take effect immediately after U.S. duties on Chinese goods kick in.
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WNU Editor: In my view China has been waging a trade war with the U.S. and everyone else for years. But now the U.S. is responding, and yes, this "war" is going to escalate.
Bye China lol
ReplyDeleteXi won't be president by 2025 anymore, this will go downhill fast and they'll get rid of their "emperor for life" very quickly. They'll find an excuse of course. I bet on "corruption" and then a lengthy prison sentence.
Loaded up on gold stocks this year...... time to become a self made millionaire..... Go Trump!
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ReplyDeleteWhat I have been missing so far is a justification by the Chinese for the lopsided trade figures. The price of manufacturing in China if reciprocated would bring a tsunami of jabbering howls sure to shatter thick glass.
Wait until the student visa program, hopefully, comes under scrutiny. In this one I don't believe we have anything to lose. How many go to their schools? Other than language studies and toad toenail soup recipes, I think we can manufacture anything they do. And if not, I'm sure there are plenty of countries who can and will be delighted to have our business.
My only worry is the huge volume of debt we have that is used to recycle the lopsided trade figures between the two countries. And in the past, grow and strengthen their military and it's adventures. I think that will be a delicate situation for us.
Wasn't it Lenin who famously proclaimed that we [the communists] will sell them [the capitalists] the rope they use to hang themselves?
Roger, they don't need justification, they are taking on debt of countries and calling them on it. I have to hand it to the Chinese, until Trump, no one has called them on it. We have played nice because they would finance our poor growth as our Politicians did not seem to care. MAGA!! This is what it's all about.
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