China to 'fight back' against any threatened United States tariffs

President Donald Trump and China's President Xi Jinping arrive for a state dinner in Beijing last year

As the USA trade war with China looks set to escalate, Dr Tony Syme, expert in macroeconomics and worldwide finance at the University of Salford Business School, comments on what the impact might be and how it could reach much further than just the two countries involved.

Navarro said the main problem regarding China's unfair trade practices stems from its targeting of the "crown jewel" of USA technology. He notes that the US imports more from China than China imports from the U.S. "This would likely violate WTO rules, but I suspect China will care about violating WTO rules as much as Trump does". "It is very unfortunate that instead of eliminating these unfair trading practices China said that it intends to impose unjustified tariffs targeting USA workers, farmers, ranchers, and businesses".

Mr Pompeo raised the trade issue directly with China last week, when he met in Beijing with President Xi Jinping and others.

President Donald Trump announced on Monday that he was considering a 10 percent tariff on $200 billion in additional imports from China.

"If the United States becomes irrational and issues this list, China will have no choice but to adopt strong countermeasures of the same amount and quality", the ministry statement said.

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The move followed tariffs applied last week on United States dollars 50 billion in Chinese imports to the US.

Trump warned that these additional tariffs would take effect if Beijing put its reciprocal trade measures into effect, or if it failed to reform its polices on intellectual property.

On April 3, the White House released a list of 1,300 Chinese products worth $50 billion that could be hit with potential tariffs.

Padilla said the API was talking to the Trump Administration about its concerns. "It's not easy but we're getting there", he told a group of USA small business executives.

China is matching the tariffs with its own duties on an equal value of USA goods.

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The declines came after a series of moves escalating the brewing trade war between the United States and China, the world's two largest economies. Trump slapped tariffs on steel and aluminum from Canada, Mexico and the European Union, threatened to kill the North American Free Trade Agreement and is studying new tariffs on vehicle imports.

Pompeo on Monday described USA actions as "economic diplomacy", which, when done right, strengthens national security and global alliances, he added. It said with retaliatory tariffs imposed by American trading partners added in, the total rises to $181-billion, or 1 per cent of global trade.

Trump recently ordered tariffs on $50bn in Chinese goods in retaliation for what he claimed is theft of intellectual property.

Mr Trump, pursuing his "America First" policy, has been insisting that China has been unfairly benefiting from a massive trade imbalance with the United States, now estimated to be $376 billion. "We do our best to call out unfair economic behaviors as well".

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