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U.S.-China begins largest trade war in history: reports

China has retaliates with tariffs on U.S. goods as the largest trade war in history began.

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China has retaliates with tariffs on U.S. goods as the largest trade war in history began. As the tariffs imposed on billions of dollars in Chinese goods took effect in Friday, Beijing immediately retaliates with the same measure.

The new trade regulations imposed by the Trump administration, levied a 25 percent tariff on $34 billion worth of Chinese imports to the U.S., have “violated [World Trade Organization] rules and launched the largest trade war in economic history to date,”  China’s ministry of commerce declared in a statement Friday.

Immediately, the Chinese authority retaliated with equivalent tariffs on $34 billion worth of imported U.S. goods, ranging from vehicles to soybeans, beef and other agricultural products.

President Trump who believed the current U.S.-China economic relationship had grown to be “no longer sustainable” vowed last month to implement the “trade remedies.”

“Trade between our nations,” he explained, “has been very unfair, for a very long time.”

Trump also promised that Friday’s package of economic penalties will not be the last. On Thursday aboard Air Force One, the president vowed to implement tariffs on an additional $16 billion worth of imported Chinese goods within the month.

China, for its part, has promised at each step of the way to retaliate in kind. “China is forced to strike back to safeguard core national interests and the interests of its people,” its commerce ministry declared.

 

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