Trade war between China, US likely as Trump imposes $50 billion in tariffs

US President Donald Trump declared $50 billion in tariffs on Chinese imports as the two nations look to be moving towards a trade war.

Mr Trump announced a list of more than 800 strategic Chinese imports to be subject to a 25 percent tariff from July 6th, including cars.

China has responded in kind, announcing tariffs “of the same scale and strength”, placing 25 percent tariffs on 659 US products, including cars, seafood and more.

Chinese state media has been highly critical of Mr Trump’s move, calling it “destructive” and calling Mr Trump “disgraceful”.

But the US seeks to engage in talks with China despite the imposition of tariffs.

“Our hope is that it doesn’t lead to a rash reaction from China,” U.S. Trade Representative Robert Lighthizer said.

“We hope that this leads to further negotiations and we hope it leads to China changing its policies.”

The tariffs were placed by Mr Trump as punishment for Chinese infringement over US copyright.

Tagged under

Leave a Reply