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TRADE WAR: China vows to retaliate if US imposes new $200bn tariffs

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TRADE WAR: China vows to retaliate if US imposes new $200bn tariffs

The trade war between the United States of America and China is threatening to boil over after Beijing vowed to retaliate should Washington impose fresh $200 billion tariff on Chinese goods.

China says it is confident it can maintain “steady and healthy” economic growth by cutting off trade with the US even as analysts warn that a full-blown trade war could disrupt global trade and shrink annual economic output of the US and China.

According to reports, Trump administration is poised to impose 25 percent penalties on Chinese goods in a new escalation of their trade war.

In return, China has announced a $60bn list of American products targeted for retaliation.

Read also: ABUSE CRISIS: Former top Vatican official calls for Pope’s resignation

“China will have to take necessary countermeasures if the US side ignores the opposition of the overwhelming major of its enterprises and adopts new tariff measures,” Commerce Ministry spokesman Gao Feng said.

The lingering trade face off was triggered after US complaints that Beijing steals or pressures companies to hand over technology even as China tariffs is now said to be damaging US wine industry.

 

 

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