China ‘Will Not Recoil From A Trade War,’ Proposes Multiple Reciprocal Tariffs

The world’s two largest economies may be headed toward a full-blown trade war, after President Donald Trump signed an executive order Thursday imposing tariffs up to $60 billion on Chinese imports, and the Asian country reacted Friday with a proposal to hike the tax on over 100 products imported from the United States.

Soon after Trump signed Trade Act Section 301, which he called “the first of the many” actions he would take to balance the trade deficit with China, the U.S. embassy of the world’s second-largest economy responded with a tough statement, calling the move “self-defeating” and saying the country “does not want a trade war with anyone. But China is not afraid of and will not recoil from a trade war.”

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