UNITED STATES (VOP TODAY NEWS) — The US-China trade war escalated on Monday with Beijing announcing the imposition of tariffs on US goods, ignoring US President Donald Trump’s warning to do so, in response to Washington lifting tariffs on Chinese goods.
China announced on Monday it would impose tariffs on US goods worth $ 60 billion as of June 1.
A statement issued by the Chinese government said that Beijing would impose a fee of between 5 percent and 25 percent on a number of US goods after US President Donald Trump ordered Friday to increase tariffs on the rest of China’s imports after Washington lifted tariffs on Chinese goods worth 200 Billion dollar.
At his regular press conference on Monday, Chinese Foreign Ministry spokesman Geng Shuang said, “China will not succumb to outside pressure.”
Trump warned China of “reacting” to US measures announced last Friday, keeping the maximum pressure on Beijing, which nevertheless confirmed that trade negotiations would continue.
Since the beginning of the week, Trump has expressed positions oscillating between signs of calm and threats to the Asian giant. The situation did not change Friday at the end of a round of negotiations in Washington.
“China will suffer a lot if it does not reach an agreement because companies will be forced to leave China for other countries,” Trump said on Monday morning.
The latest round of talks between the United States and China ended without a deal ending the trade dispute between the world’s two biggest economic powers.
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