‘No Winners’: China-US Trade War Will Be ‘Disastrous’ for Global Economy – Beijing
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China warns to ‘take necessary measures’ if US starts trade war
Trump signed the new tariffs order on Thursday. While allowing some neighbors and allied countries to enjoy an exemption from the new levy, Trump called the tariffs a matter of national security. The restrictions, due to take effect in 15 days, have already escalated tensions between Washington and its partners across the globe, from Tokyo to Beijing to Brussels.
Earlier on Thursday, China’s Foreign Minister, Wang Yi, vowed a “justified and necessary response” to Washington’s initiative. While China accounts for only a small fraction of US steel imports, trade tensions between Beijing and Washington have been on the rise since Trump took office.
Prior to signing the order, Trump urged Beijing to come up with a concrete proposal to reduce their trade deficit with the United States.
“China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States,” Trump tweeted. “Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon!”
*SOURCE: RT. Go to ORIGINAL.
**Image: Map showing locations of China and USA | Canuckguy et al., amended by en:User:Bazonka, The original uploader was Bazonka at English Wikipedia – Transferred from en.wikipedia to Commons. Image based on File:BlankMap-World6, compact.svg | Creative Commons Attribution-Share Alike 3.0 Unported license.
Source: https://human-wrongs-watch.net/2018/03/11/no-winners-china-us-trade-war-will-be-disastrous-for-global-economy-beijing/
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