19 June, 2018
As part of the tariff announcement this morning, the White House promised to "pursue additional tariffs if China engages in retaliatory measures, such as imposing new tariffs on United States goods, services, or agricultural products". He wants to reduce America's $375 billion trade deficit with China.
The warning from Beijing comes as the U.S. prepares to levy new tariffs on $50bn worth of Chinese imports.
U.S. officials have said Beijing has sought industrial dominance in emerging technologies through the theft of American know-how through forced technology transfers, hacking and other forms industrial espionage.
The government will start to collect the tariffs July 6.
A second round of tariffs, to be imposed on an unspecified date, on 114 items worth $16 billion will mostly hit chemicals, medical equipment and energy products.
Beijing also said "all economic and trade agreements reached by previous negotiations will be nullified at the same time".
Its statement also said all trade agreements made between the two countries during recent negotiations would be void due to the new USA tariffs.
"In this day and age, launching a trade war is not in the interest of the world", China's Commerce Ministry said.
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The president has co-ordinated closely with China on efforts to get Pyongyang to eliminate its nuclear arsenal, but he signalled that whatever the implications, "I have to do what I have to do" to address the trade imbalance. The spokesman added that this "undermines the world trade order".
The official said the Chinese action was taken in response to the emergent circumstances caused by the USA violations of global obligations.
Trump also defended his trade clash at a recent meeting of the Group of Seven industrialized nations.
Davie Stephens, ASA vice president, said crop prices have already fallen 40 percent over the past five years, and that the new tariffs could be devastating.
The Office of the US Trade Representative on Friday said that $50 billion worth of Chinese goods with "industrially significant technologies" will be subject to 25 percent tariffs.
"China is our real trade enemy, and their theft of intellectual property and their refusal to let our companies compete fairly threatens millions of future American jobs", Schumer said in a statement on Friday.
China says its tariffs mirror the American ones.
The U.S. tariffs, which were expected, follow steep duties Trump imposed on steel and aluminum from Canada, Mexico and the European Union.