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The US-China trade war continues to heat up as Beijing calls for a “people’s war” against Washington, and President Donald Trump threatens to impose tariffs on another $300 billion worth of Chinese goods.
In a series of editorials and op-eds published on Monday, Chinese state media slammed the Trump administration’s “greed and arrogance,” and called for a “people’s war” against it. Beijing’s state-run media effectively serve as mouthpieces for the Communist Party.
“The most important thing is that in the China-US trade war, the US side fights for greed and arrogance … and morale will break at any point. The Chinese side is fighting back to protect its legitimate interests,” the nationalistic Global Times tabloid wrote in a Chinese-language editorial carried by Xinhua News Agency.
“The trade war in the US is the creation of one person and one administration, but it affects that country’s entire population. In China, the entire country and all its people are being threatened. For us, this is a real ‘people’s war.'”
London (CNN Business)China is striking back at the United States as the trade war between the world’s two biggest economies continues to escalate.
Beijing said Monday that it will increase tariffs on roughly $60 billion worth of US goods on June 1, including American cotton, machinery, grains and aircraft parts. More than 4,000 items are affected, most of which will carry tariffs of 25% — up from 10% when they were first levied last September.
The move follows Friday’s increase in US tariffs on $200 billion worth of Chinese exports from 10% to 25%. The Trump administration, which has accused China of backtracking on previous trade commitments, sought to turn up the pressure on Beijing after months of talks failed to produce a breakthrough. But it’s not clear whether the return of tit-for-tat penalties will push Beijing toward a deal.
US and Chinese negotiators ended another round of talks on Friday without an agreement to resolve American concerns on market access and intellectual property theft.
American officials accuse Beijing of backtracking on commitments made in earlier rounds of negotiations.
BEIJING (AP) — President Donald Trump’s latest tariff hike on Chinese goods took effect Friday and Beijing said it would retaliate, escalating a battle over China’s technology ambitions and other trade tensions.
The Trump administration raised duties on $200 billion of Chinese imports to 25% from 10%. China’s Commerce Ministry said it would impose “necessary countermeasures” but gave no details.
The increase went ahead even after American and Chinese negotiators began more talks in Washington aimed at ending a dispute that has disrupted billions of dollars in trade and shaken global financial markets.
Chinese leader Xi Jinping has refashioned the People’s Liberation Army into a force that’s rapidly closing the gap on U.S. firepower — and in some vital areas has surpassed it. The American victory over China in a regional war is no longer assured.