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Tags: china | us | trade war | tariffs

China Won't 'Fire the First Shot' in Trade War With US

China Won't 'Fire the First Shot' in Trade War With US
China's President Xi Jinping (Thomas Peter/AFP/Getty Images)

By    |   Wednesday, 04 July 2018 11:34 AM EDT

China "will never fire the first shot" in a trade war with the United States, the nation's government announced on Wednesday, just days before the U.S. is set to impose tariffs on billions worth of Chinese imports.

"The Chinese government's position has been stated many times. We absolutely will not fire the first shot, and will not implement tariff measures ahead of the United States doing so," China's Ministry of Finance said in a statement, according to The Guardian. 

President Donald Trump has threatened to impose 25 percent tariffs on $50 billion of Chinese imports, beginning with a tariff on aerospace and information technology goods worth about $34 billion on July 6, which will be followed by a tax on $16 billion of Chinese machinery and plastic products at a later date.

Beijing responded with a threat to levy duties on $34 billion worth of American goods, targeting soybeans, meat, and vehicles, with a further round of tariffs on chemicals, coal and crude oil to follow.

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Politics
China "will never fire the first shot" in a trade war with the United States, the nation's government announced on Wednesday.
china, us, trade war, tariffs
166
2018-34-04
Wednesday, 04 July 2018 11:34 AM
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