China will counterpunch United States with $34 billion in tariffs

The European Union Mexico and Canada have all the hit U.S. with billions in retaliatory tariffs

The European Union Mexico and Canada have all the hit U.S. with billions in retaliatory tariffs

The change means China won't begin levying United States exports before Friday afternoon, Beijing time.

Yesterday, the EU's top two officials warned about greater trade tensions with the U.S. as Mr Trump weighs tariffs on foreign cars after irking American allies with metal-import levies.

China is putting pressure on the EU to issue a strong joint statement against President Trump's trade policies at the summit but is facing resistance, European officials said.

China has said it will not "fire the first shot", but its customs agency made clear on Thursday that Chinese tariffs on US goods will take effect immediately after Washington's duties on Chinese goods kick in.

U.S. tariffs meant to punish China for allegedly unfair trading practices are due to take effect on Friday.

"The US has provoked this trade war, we do not want to fight it, but in order to safeguard the interests of the country and the people, we have no choice but to fight", said China commerce ministry spokesman Gao Feng. Beijing has pledged to retaliate with equal tariffs on $34 billion in USA goods.

This is against a backdrop that Washington's first list of Chinese goods to be levied tariffs worth US$34 billion will come into effect this Friday, June 6.

Imports from the US are seen at a supermarket in Shanghai, China April 3, 2018. "To put it simply, the opening fire on the entire world, including itself", he said.

Sons of Salto Edinson Cavani and Luis Suarez drive Uruguay’s campaign
Two-goal striker went down holding his right leg in an off-the-ball incident and was substituted with 16 minutes to go. "He tried. In Italy ball possession isn't sanctified as it is elsewhere.

"Generally speaking we're not going to get caught up in the tariffs the United States is applying to China because we have a different export profile", said Jacobi, who is executive director of the NZ International Business Forum. Economists have warned that the tariffs will damage economic growth and cost jobs, and could escalate into a full-blow trade war between the world's two largest economies.

"China will not bow in the face of threats and blackmail", he added.

There was no mention of the trade tensions in reports on the latest travel advisory posted by the Chinese Embassy in Washington.

Still, China's stance is striking given Washington's deep economic and security ties with European nations.

"Trump has split the West, and China is seeking to capitalize on that".

Brussels shares Washington's concern about China's closed markets and what western governments say is Beijing's manipulation of trade to dominate global markets.

The industry source said Beijing had been unable to address the Trump administration's concerns on Chinese trade policies in at least five key area, including forced technology transfers, Chinese industrial overcapacity, government subsidies, SOE reform, and Beijing's restrictions in the cloud computing industry.

Latest News