WASHINGTON — Primed for economic combat, President Donald Trump set in motion tariffs on as much as $60 billion in Chinese imports to the U.S. on Thursday and accused the Chinese of high-tech thievery, picking a fight that could push the global heavyweights into a trade war.
Wow...does this guy know the Chinese own more US debt than any other one nation? Who's second? Russia. Needless to say, if any type of hostile behavior is tossed into either corner, Russia or China, they undoubtedly have each other's backs.
https://www.washingtonpost.com/business/economy/trump-moves-toward-imposing-steep-tariffs-on-china-sending-stocks-plummeting/2018/03/22/5cd3a7c6-2dfe-11e8-8ad6-fbc50284fce8_story.html?utm_term=.af334dd0c3cb
President Trump embarked Thursday on the sharpest trade confrontation with China in nearly a quarter-century, moving toward imposing tariffs on $60 billion in Chinese goods and limiting China’s freedom to invest in the U.S. technology industry.
The Chinese government fired back hours later, threatening to hit $3 billion in U.S. goods with tariffs. Trump’s announcement was “typical unilateralism and protectionism,” China’s Commerce Ministry said in a statement, and it had set a “very bad precedent.”
“China does not want to fight a trade war, but it is absolutely not afraid of a trade war,” it said in a statement issued Friday morning in Beijing. “We are confident and capable of meeting any challenge. It is hoped that the U.S. side will be able to make a swift decision and not to drag bilateral economic and trade relations into danger.”
https://www.usatoday.com/story/money/2018/03/23/trump-tariffs-china-imports-consumers/454008002/
The bigger risk is that the current skirmishes mushroom into a global trade war.
https://www.usatoday.com/story/money/2018/03/23/trump-tariffs-china-imports-consumers/454008002/
The bigger risk is that the current skirmishes mushroom into a global trade war.
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