#Trump has cautioned the world’s second-largest #economy to think twice before engaging in a trade war in which, he claims, the #US has “more bullets.” “We’re going to go $200 #billion at 25 percent on #Chinese made #goods . And we will come back with more if they #retaliate. We have a lot more to come back with,” Trump told a packed rally in Missouri for Republican Senate candidate Josh Hawley. “We are cracking down on the #unfair trade practices of #China … #We have rebuilt China. We have given them such #wealth . And we are changing it,” Trump told the cheering crowd. “So we charged 25 percent on $50 billion worth of #merchandise #tariffs coming in. And then they said, 'We're going to do the same thing'. And I've said: 'That is okay. We have far more bullets'.” While the #US keeps #accusing China of refusing to buy #American #products to maintain a “fair” trade balance, Beijing is complaining that Washington’s protectionist practices are #detrimental to the entire global economy – and has even taken up the issue with the World Trade Organization.
Yet, despite Beijing’s willingness to #negotiate some kind of a deal to stop the escalation of the #trade #war , the White House is trying to coerce their partner into #submission . In a separate slap on the wrist, just days after announcing the new $200bn levies, the Trump administration introduced #sanctions against China’s leading arms acquisition body and its director, over the purchase of #Russian Su-35 multi-role fighters and S-400 #missile defense systems.
#Beijing immediately hit back at the US administration, urging it “to remedy the mistake and #cancel the sanctions” which #forbid arms export licenses and foreign exchange transactions under US jurisdiction. “Otherwise, the US has to bear the #consequences ,” the ministry's spokesperson stressed.
Amid the escalating tensions, China has reportedly canceled a mid-level delegation visit to Washington next week, that was supposed to pave the way for further trade negotiations with President #Xi's top economic adviser and vice-premier Liu He, the Wall Street Journal reported, citing sources.