Hours after President Donald Trump’s announcement on Friday that the US would hit $50 billion worth of Chinese goods with a 25% tariff, the Chinese government hit back with retaliatory tariffs on US goods.
China’s Ministry of Commerce warned that the country will apply tariffs on US goods at the “same scale and the same strength.”
Its statement also declared that all trade agreements made between the two countries during recent negotiations would be void due to the new US tariffs.
“China does not want to fight a trade war,” the Commerce Ministry said. “However, in the face of short-sighted behavior that the United States has done against people’s disadvantages, the Chinese side has to give a strong blow back, resolutely safeguard national interests and the interests of the people, and resolutely defend economic globalization and the multilateral trading system.”
China also called on all nations of the world to take joint action to end Trump’s “regressive behavior, and firmly defend the common interests of humankind.”
“We call on all countries to take joint actions, resolutely put an end to this outdated and regressive behavior, and firmly defend the common interests of humankind.”
“My great friendship with President Xi of China and our country’s relationship with China are both very important to me,” Trump said Friday. “Trade between our nations, however, has been very unfair, for a very long time. This situation is no longer sustainable.”
Trump said in the statement that the U.S. would pursue additional tariffs on Chinese goods if China retaliates.