The Chinese government has threatened unspecified “necessary countermeasures” if Trump’s planned rate increase continues.
The Ministry of Commerce said that Trump’s announcement is a violation of his agreement with President Xi Jinping in June to reinvigorate the negotiations, aimed at ending their struggle for Beijing’s trade surplus and technological ambitions.
The ministry said that if US measures came into effect, “China must take the necessary countermeasures to defend its core interests resolutely.”
Friday’s statement continued: “All consequences will be borne by the United States.”
Trump said Thursday that he will be imposing September 1 rates on the remaining $ 300 billion worth of Chinese imports that he has not yet taxed.
The president previously imposed 25% rates of $ 250 billion on Chinese products. Beijing took revenge by levying import duties on $ 110 billion worth of American goods.