Donald Trump has announced a 25% tariff on $50bn of Chinese goods, triggering a promise of immediate retaliation from China. The move, after a long war of words, increases the possibility of a full trade war between the world’s two leading economies.
In a statement, the White House said the tariffs would be levied on goods that “contain industrially significant technologies”. The administration warned it would pursue further levies if China retaliates.
Trump said the US’s trade relationship with China was “no longer sustainable”.
“My great friendship with President Xi [Jinping] of China and our country’s relationship with China are both very important to me,” said Trump. “Trade between our nations, however, has been very unfair, for a very long time.
“The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices.”
In a statement on its website, the Chinese commerce ministry said: “China is unwilling to have a trade war, but the Chinese side has no choice but to strongly oppose this, due to the United States’ myopic behaviour that will harm both parties.”
The measures harm the interests of both countries and disrupt world trade, the statement said, adding: “We will immediately introduce tariff measures of the same scale and strength. All the results from the negotiations previously reached by the two parties will be invalid.”
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