China has warned the United States that it is ‘not afraid of a trade war.’ The comments come after US President Donald Trump vowed to impose tariffs on some $60 billion worth of Chinese goods. Markets across the world slid on the news.
Global trade tensions have been brewing for months with tariffs and counter-tariffs flying between the US, China and several other countries. The US government has now challenged some of the tariffs at WTO level.
US officials have revealed a list of Chinese goods they will be targeting with 10 percent tariffs, raising fears of an escalating trade war. US retailers have slammed the decision, as has China itself.
Trade frictions between the US and China are getting worse again with a fresh round of tariffs. Yet it's not just about trade, but something more fundamental, says economist Thomas Straubhaar.
At a time of heightened uncertainty in the global economic environment, leaders of Europe and China are meeting to ponder ways to counter the fallout from US President Trump's "America First" policies.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version