China Vows New Retaliation In Escalating Trade War

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BEIJING — China slammed the U.S. threat to expand tariff hikes to imports including apples, fish sticks and French doors as a “totally unacceptable” escalation of their trade battle on Wednesday and vowed to protect its “core interests.”

The Trump administration raised the stakes in the growing trade dispute, threatening 10 percent tariffs on a list of $200 billion worth of Chinese imports, sending stocks lower and prompting Beijing to warn it would be forced to respond.

China’s commerce ministry said it was “shocked” and would complain to the World Trade Organisation, but did not immediately say how it would retaliate.

Beijing has said it would hit back against Washington’s escalating tariff measures, including through “qualitative measures,” a threat that U.S. businesses in China fear could mean anything from stepped-up inspections to delays in investment approvals and even consumer boycotts.

The spiraling conflict over Chinese technology policy threatens to chill global economic growth. It stems from Washington’s belief that Beijing steals or pressures companies to hand over technology and worries that plans for state-led development of Chinese champions in robots and other fields might erode American industrial leadership.

 

read more at nbcnews.com

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About Chuck Berry

Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!