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Trump threatens more China tariffs

in ASIA by

China warned it was ready with a “fierce counter strike” of fresh trade measures if the United States follows through on President Donald Trump’s threat to slap tariffs on an additional $ 100 billion of Chinese goods. China’s state media has rallied against the United States warning its trade protectionism actions would end in defeat and that the only option now was to hit the United States hard enough so it will “remember the pain”. 

Trump, in light of what he called China’s “unfair retaliation” against earlier U.S. trade actions, had upped the ante, escalating a tit-for-tat confrontation with potentially damaging consequences for the world’s two biggest economies. 

China’s Commerce Ministry spokesman, Gao Feng, calling the U.S. action “extremely mistaken” and unjustified, said the spat was a struggle between unilateralism and multilateralism and that no negotiations were likely in the current circumstances.China’s media, which is strictly controlled by the government, has come out in defense of the country, painting the country as a victim of an overly aggressive United States bent on taking illegitimate unilateral action. 

Trump imposes tariffs on steel and aluminum, but offers relief to allies

in AMERICAS/ECONOMY by

President Trump on Thursday signed a pair of proclamations that impose tariffs on imported steel and aluminum while offering relief to some U.S. allies, as the president took his most significant step yet away from free trade but stopped short of the global tariffs his GOP allies begged him to avoid. The tariffs, set to take effect in 15 days, do not apply to imports from Canada and Mexico so that U.S. officials can assess progress as they renegotiate the North American Free Trade Agreement. Other countries with a “security relationship” to the United States may seek exemptions by opening talks with the administration on “alternative ways” to address the threats the administration alleges their products pose to national security.

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