April 4, 2018
China shoved back hard on Wednesday after the Trump administration published a 43-page collection of Chinese goods it planned to hit with new tariffs, retaliating with a list of similar duties on U.S. imports including soybeans, planes, cars, beef and chemicals.
Beijing took less than 11 hours to respond, a speed that led to a steep selloff in global markets.
President Donald Trump, though, insisted that the world’s two economic superpowers aren’t trading financial blows.
‘We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,’ Trump tweeted early Wednesday.
‘Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!’
He added two hours later in another tweet: ‘When you’re already $500 Billion DOWN, you can’t lose!’
This article was posted: Wednesday, April 4, 2018 at 9:23 am