Monday, September 24, 2018

Meanwhile, trade wars are easy

China chastised the U.S. on Monday for engaging in what it deemed "trade bullyism" as $200 billion worth of tariffs went into effect, ratcheting up a trade war between the world's two largest economies.

Reuters reported that China's State Council blasted the Trump administration, saying it "has brazenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs."


Chinese officials on Saturday canceled planned trade talks with the U.S. after the Trump administration announced its latest round of tariffs targeting $200 billion worth of Chinese goods with a 10 percent duty that is slated to rise to 25 percent next year.

The announcement prompted China to retaliate with tariffs on $60 billion in U.S. imports.

The nations had already slapped $50 billion worth of tariffs on one other, raising concerns among economists that a trade war between the two countries could hamper the global economy.


Secretary of State Mike Pompeo vowed in an interview Sunday that the U.S. is "determined to win" any trade war with China.

  The Hill
...but hey, do what you will anyway.

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