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China threatens to raise tariffs on about $3 billion of U.S. imports

2018-03-23 11:57:43       source:The Washington Post

March 22, 2018


President Trump embarked Thursday on the sharpest trade confrontation with China in nearly a quarter-century, moving toward imposing tariffs on $60 billion in Chinese goods and limiting China’s freedom to invest in the U.S. technology industry.


The Chinese government fired back hours later, threatening to hit $3 billion in U.S. goods with tariffs. Trump’s announcement was “typical unilateralism and protectionism,” China’s Commerce Ministry said in a statement, and it had set a “very bad precedent.”


“China does not want to fight a trade war, but it is absolutely not afraid of a trade war,” it said in a statement issued Friday morning in Beijing. “We are confident and capable of meeting any challenge. It is hoped that the U.S. side will be able to make a swift decision and not to drag bilateral economic and trade relations into danger.”


Read more:

https://www.washingtonpost.com/business/economy/trump-moves-toward-imposing-steep-tariffs-on-china-sending-stocks-plummeting/2018/03/22/5cd3a7c6-2dfe-11e8-8ad6-fbc50284fce8_story.html?utm_term=.77f1825d76e4