(Bloomberg) -- The U.S tariff hikes on China are bullying acts that set up new roadblocks to reaching a trade deal, the People's Daily said in an editorial.
China has been forced to take “rational and restrained counter measures” in response to the escalating trade tensions with the U.S., whose acts are “provocative” in nature, the state-run newspaper said Sunday. “China is confident in pursuing its own path and doing its own business well, and will firmly oppose any inflammatory stance by the U.S.”
See also: U.S. ‘Starting to Lose China,' Says Global Times' Hu Xijin (1)
The trade war between the two nations escalated Friday after China said it would impose retaliatory tariffs on another $75 billion of U.S. goods. President Donald Trump responded by announcing additional levies on Chinese imports and called for American companies to pull out of Asia's largest economy.
“China urges the U.S. to stop their wrongdoing right away or all the consequences will be borne by the U.S.,” China's Ministry of Commerce said in a statement Saturday.
The latest Chinese tariffs include levies on soybeans, pork, cotton and crude oil. Beijing's move takes aim at the heart of Trump's political support -- factories and farms across the Midwest and South -- at a time when the U.S. economy is showing signs of slowing down.
To contact Bloomberg News staff for this story: Tongjian Dong in Shanghai at tdong28@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Andrew Janes, Linus Chua
©2019 Bloomberg L.P.
With assistance from Bloomberg
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
