Online Reporter
President Donald Trump raised the tariff on Chinese imports to 125% on Wednesday in an escalating battle that threatens to disrupt trade between the world’s two largest economies.
Citing a lack of respect, Trump set China apart from other countries.
He said in a social media post that he is pausing his so-called “reciprocal tariffs” on many other trading partners because they had responded by reaching out for talks rather than retaliating.
The response from the Chinese government signals its determination not to bend to Trump’s pressure, despite the risks.
“If the US insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” China’s Ministry of Commerce said before announcing its latest tariff hike. – Reuters
