China has fired back in a spiraling trade dispute with President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans, electric cars and whiskey.
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.”
READ MORE: Donald Trump slaps 25% tariffs on US$50B in Chinese imports
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.
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