China threatens countries against striking trade deals with US at its expense

On Monday China accused Washington of abusing tariffs and warned countries against striking a broader economic deal with the United States at its expense, ratcheting up its rhetoric in a spiralling trade war between the world’s two biggest economies.
Beijing will firmly oppose any party striking a deal at China’s expense and “will take countermeasures in a resolute and reciprocal manner,” its Commerce Ministry said.

Supposedly, the ministry was responding to rumors, citing sources familiar with the matter, that the Trump administration is preparing to pressure nations seeking tariff reductions or exemptions from the U.S. to curb trade with China, including imposing monetary sanctions.

President Donald Trump paused the sweeping tariffs he announced on dozens of countries on April 2 except those on China, singling out the world’s second largest economy for the biggest levies. In various zigzags and moves, Washington has raised tariffs on Chinese imports to 145%, prompting Beijing to slap retaliatory duties of 125% on U.S. goods, effectively erecting trade embargoes against each other. Last week, China signaled that its own across-the-board rates would not rise further. Note that some goods imported from China such as in technology have had those tariffs removed. Some of these rumors and media reports do not fully make sense.

Ignoring its own trade war against the United States, its Belt and Road initiative and trying to replace the US dollar as the international reserve currency, pursuing a hard line stance, Beijing will this week convene an informal United Nations Security Council meeting to accuse Washington of bullying and “casting a shadow over the global efforts for peace and development” by weaponizing tariffs.

Hopefully China and the US will tone things down as hopefully they will come to realize that if a war comes between the United States and China THERE WILL BE NO TRADE between the two and both countries will fall into a depression and civil war as both countries engage in a pointless war between each other.

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