Markets
China Vows to Hit Back Over U.S. Proposal for Fresh Tariffs
- China Vows to Hit Back Over U.S. Proposal for Fresh Tariffs
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods in a move that rattled global markets.
China’s commerce ministry said on Wednesday it was “shocked” and would complain to the World Trade Organisation, but did not immediately say how Beijing would retaliate in the dispute between the world’s two biggest economies. In a statement, it called the U.S. actions “completely unacceptable”.
The Chinese foreign ministry said Washington’s threats were “typical bullying” and described the dispute as a “fight between unilateralism and multilateralism”.