China warns Washington's trade actions will hurt USA workers, farmers

22 June, 2018, 04:04 | Author: Eric Barnett
  • Trump’s China clamp down defends America’s crown jewels: trade director Peter Navarro

However, many lawmakers have expressed concerns that the tariffs will escalate into a trade war that will ultimately hurt American interests.

Reuters reports further headlines from the Chinese Commerce Ministry, this time highlighting the US-Sino trade spat.

Trump said Monday that China's decision to retaliate in kind against his first batch of $50 billion in tariffs required a US response to encourage Beijing to change its unfair practices.

Washington's accusations of forced tech transfers are a distortion of reality, and China is fully prepared to respond with "quantitative" and "qualitative" tools if the U.S. releases a new list of tariffs, Gao said. In two of the past six months for which US export data is available, American exports to China exceeded the volume of USA exports to Canada-in October 2017 and in March 2018.

In March, President Trump pledged to impose 25 percent tariffs on steel imports and 10 percent tariffs on aluminum imports from Canada, Mexico and the European Union.


According to Sinopec sources who spoke to Reuters, China will not struggle to find alternatives to US oil.

In trade wars, there tend to many casualties and few winners.

The US goods affected on July 6 include soybeans, fruit, meat products such as pork, autos, as well as marine products.

China will take action to defend its interests, and United States unilateralism will ultimately damage the interests of its own workers and farmers, Gao told reporters. The 30-stock share index has declined 0.25 percent year-to-date.

White House National Trade Council Director Peter Navarro on the Trump administration's proposed Chinese investment restrictions.

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