"The back and forth threatens to derail a possible meeting between Trump and Chinese leader Xi Jinping and end a truce in a trade war in which new tariffs from both sides briefly topped 100% in April. Trump has raised taxes on imports from many U.S. trading partners since taking office in January, seeking to win concessions. China has been one of the few countries that hasn't backed down, relying on its economic clout."
""Frequently resorting to the threat of high tariffs is not the correct way to get along with China," the Commerce Ministry said in its post, which was presented as a series of answers from an unnamed spokesperson to four questions from unspecified media outlets. The statement called for addressing any concerns through dialogue. "If the U.S. side obstinately insists on its practice, China will be sure to resolutely take corresponding measures to safeguard its legitimate rights and interests," the post said."
China signaled it would not back down after President Donald Trump threatened a 100% tariff on Chinese imports, urging the U.S. to resolve differences through negotiations rather than threats. The Commerce Ministry said China does not want a tariff war but is not afraid of one and warned it would take corresponding measures to protect legitimate rights and interests if the U.S. persisted. The dispute centers on new Chinese restrictions on rare earth exports and U.S. threats including higher tariffs and possible export controls on "critical software." Both sides accuse the other of violating a truce by imposing new trade restrictions.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]