China Hits Out at Trump Tariffs and Warns of Retaliation
Source: The Daily Beast
President Trump’s wish for a trade war looks set to come true after China lashed out at the tariffs he slapped on steel and aluminum imports Thursday, with Beijing threatening imminent retaliatory measures. In a frank statement, China’s Commerce Ministry said Friday that it “strongly opposed” the Trump tariffs and that it would be taking “effective measures to protect China’s rights.” The China Iron and Steel Association urged the Chinese government to bring in tit-for-tat measures on American stainless-steel and electronic products, and the China Nonferrous Metals Industry Association called for action against U.S. goods, such as farm and high-end consumer products. The Wall Street Journal reported that both groups have also called for retaliatory measures against imports of U.S. coal. Trump tweeted last week: “When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win.”
READ IT AT THE WALL STREET JOURNAL
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