China’s commerce ministry on Friday said it would fight the U.S. at “any cost” after President Donald Trump threatened to impose tariffs on an additional $100 billion in Chinese imports.
Trump asked the U.S. Trade Representative (USTR) to consider lobbing additional tariffs against China in light of the country’s “illicit trade practices” that have “destroyed thousands of American factories and millions of American jobs.”
The president issued a statement saying he has been committed to “level the playing field” after an investigation by the USTR found that certain Chinese policies have given the country an unfair advantage over the U.S. One policy requires foreign companies to hand over technology in violation of Beijing’s free-trade commitments, often forcing U.S. firms to license their technology in China.
“This is what a trade war looks like, and what we have warned against from the start,” National Retail Federation President and CEO Matthew Shay told Reuters. – READ MORE
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