China says, it will retaliate against Trump’s fresh tariffs

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China says, it has no choice but to retaliate against new US trade tariffs.This however risks even stronger action from US President Donald Trump, in an escalation of the trade war between the world’s largest economies.
Beijing’s statement came hours after Mr Trump imposed 10 percent tariffs on about 200 billion dollars worth of imports from China, and threatened duties on about 267 billion dollars more, if China hit back on the latest US action.
China hopes the United States would recognise the negative consequences of its actions, and take convincing steps to correct its behaviour in a timely manner. Last month, China unveiled a proposed list of tariffs on 60 billion dollars worth of US goods, should Washington activate the tariffs on its 200 billion dollars list.
Market sources in China say, US trade actions against China will not work, as China has ample fiscal and monetary policy tools to cope with the impact.

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2020-Jul-13 | 08:07

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