Wednesday, July 11, 2018

Trump ramps up the trade war

United States President Donald Trump has ramped up the trade wars by threatening to impose new 10 per cent tariffs on $200 billion worth of imports from China.

China accused Trump of bullying and warned it will retaliate, but has yet to spell out how.

China’s commerce ministry said on Wednesday it was “shocked” and would complain to the World Trade Organisation.

It called the U.S. actions “completely unacceptable.”

“This is a fight between unilateralism and multilateralism, protectionism and free trade, might and rules,” foreign ministry spokeswoman Hua Chunying told a regular briefing on Wednesday.