- Late Monday the U.S. officially announced tariffs on another $200 billion of Chinese imports in an escalating trade dispute with China.
- China said Tuesday it would slap duties on another $60 billion of American imports in response.
- In a pair of tweets Tuesday, President Donald Trump said China was trying to influence the U.S. election by attacking farmers, ranchers and industrial workers and that his retaliation will be "great and fast."
President Donald Trump, who drew a line in the sand Monday with China in officially announcing tariffs on another $200 billion in Chinese imports to the U.S., is now threatening "great and fast" economic retaliation if China targets American farmers, ranchers or industrial workers.
China said Tuesday it has " no choice " but to retaliate, according to a statement released Tuesday by its Commerce Ministry. It announced additional duties on $60 billion of American imports in a forced response to U.S. trade protectionism.
Before the news from China was announced, Trump unleashed his threats in a pair of posts on Twitter Tuesday morning. Trump said China is "actively" trying to change the U.S. election by attacking these American workers "because of their loyalty to me."
"China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me What China does not understand is that these people are great patriots and fully understand that....
.....China has been taking advantage of the United States on Trade for many years. They also know that I am the one that knows how to stop it. There will be great and fast economic retaliation against China if our farmers, rancher and/or industrial workers are targeted!"
On CNBC earlier Tuesday, Commerce Secretary Wilbur Ross said the new tariffs are aimed at modifying China's behavior and leveling the playing field for American companies competing there.
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