Home Business NewsBusiness Tensions peak: Trump threatens China with $200bn of new tariffs

Tensions peak: Trump threatens China with $200bn of new tariffs

by Purvai Dua
19th Jun 18 9:39 am

Here’s what he said

In an unexpected move, US President Donald Trump has threatened to impose a further 10 per cent tariff on $200bn of Chinese goods if Beijing does not abandon its intention to retaliate against US duties on imports announced last week.

In response, China has responded by accusing the US of “blackmail”, raising fears of a trade war.

“After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced,” Trump said in a statement.

“Such a practice of extreme pressure and blackmailing deviates from the consensus reached by both sides on multiple occasions,” China’s commerce ministry said in a statement, adding: “The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the U.S., but of the world.”

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