China announced this Wednesday tariffs of 25% on soybeans, cars and other imported American products worth 50 billion dollars, a new stage in the trade war with the United States hours after Washington published its own list of products.
The Chinese Ministry of Commerce listed a total of US products (meat, whiskey, chemicals or cigarettes, among others) but indicated that the date of application of tariffs will be announced later.
“Any attempt to put China on its knees with threats and intimidation will never succeed. Nor will it be successful this time, “Foreign Ministry spokesman Geng Shuang said at a news conference on Wednesday.
“There are no winners in a trade war, and whoever initiates it harms himself and others,” the spokesman added.
The Trump administration announced on Tuesday a list of imported Chinese products, for a total value of 50,000 million dollars, which will have to pay new tariffs. The measure is in retaliation for what Washington considers the forced transfer of US technology to Chinese companies
After the Chinese announcement, US President Donald Trump reacted on Twitter.
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018