China responds to Trump tariffs, hikes import duties on American goods
The government said Saturday it was responding in “equal scale” to Trump’s tariff hike on Chinese goods in a conflict over Beijing’s trade surplus and technology policy that companies worry could quickly escalate and chill global economic growth.
The Commerce Ministry says “the Chinese side doesn’t want to fight a trade war, but facing the shortsightedness of the U.S. side, China has to fight back strongly.”
The ministry says it’s also scrapping deals to narrow Beijing’s multibillion-dollar trade surplus with the U.S. by purchasing more American farm goods, natural gas and other products.
The Ministry of Finance says Beijing will impose an additional 25 percent tariff starting July 6 on 545 products from the U.S. including soybeans, electric cars, orange juice, whiskey, salmon and cigars.
© 2018 The Canadian Press