Saturday 22 September 2018
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2 months ago

China won t accept U.S. trade blackmail - state media

BEIJING/SINGAPORE - 5 August 2018: China s state media said on Saturday the government s retaliatory tariffs on $60 billion of U.S. goods showed rational restraint and they accused the United States of blackmail.

Late on Friday, China s finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, with the extra levies ranging from five to 25 percent on a total value of goods less than half of that proposed by U.S. President Donald Trump s administration.

The response follows the Trump administration s proposal of a 25-percent tariff on $200 billion worth of Chinese imports.

China s countermeasures are rational, the Global Times, a tabloid run by the official People s Daily, said in a commentary.

China will not rush to compete with U.S. numbers, it said, echoing comments made by state television.

The United States and China implemented tariffs on $34 billion worth of each others goods in July. Washington is expected to soon implement tariffs on an additional $16 billion of Chinese goods, which China has already said it will match immediately.

The White House s extreme pressure and blackmail are already clear to the international community, said a state television commentary. Such methods of extreme blackmail will not bear fruit against China.

TRUMP TOUTS TARIFFS, SAYS THEY ARE WORKING

In a series of tweets on Saturday, Trump disagreed.

Tariffs are working far better than anyone ever anticipated, he claimed, citing a big drop in China s stock market. They are really hurting their economy.

Trump also claimed that China was talking to the United States about trade, but he provided no details. He said his administration would continue to employ tariffs if other nations were unwilling to come to the table on trade. We are using them to negotiate fair trade deals, Trump said.

China has now either imposed or proposed tarif

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