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China hits back with fresh tariffs against the U.S., preps for protracted battle

Market Watch
China hits back with fresh tariffs against the U.S., preps for protracted battle

Beijing warned it would match the Trump administration step for step should it move ahead with new tariffs on Chinese imports, as trade data showed the country is shoring up its economy for a long trade conflict with the U.S. China’s Ministry of Commerce on Wednesday criticized the U.S.’s plan to impose new 25% tariffs on $16 billion in Chinese goods on Aug. 23, and released an updated list of items it would target with similar tariffs that would go into effect the same day. “This is very unreasonable,” the ministry said. “In order to defend China’s rightful interests and the multilateral trade system, China has to retaliate as necessary.” Its comments came as government data showed imports of