It’s still a bit early, but the next phase of US-China trade war is approaching. The public comment period for the 25% tariffs on USD 200B in Chinese imports will end today. Trump could be ready to start imposition of such tariffs any time. And ahead of that Trump said yesterday that “right now we just can’t make that deal” with China. And, “in the meantime, we’re taking in billions of dollars of taxes coming in from China, with the potential of billions and billions of dollars more taxes coming in.”
On the other hand, Chinese Commerce Ministry Spokesman Gao Feng said in a regular press conference that “if the United States, regardless of opposition, adopts any new tariff measures, China will be forced to roll out necessary retaliatory measures.” Both sides have already slapped tit-for-tat tariffs on $US50 billion of each other’s goods. That came after US steel and aluminium tariffs and China’s own retaliation. For the upcoming ones, China already announced counter measures of tariffs on USD 60B of US goods ranging from liquefied natural gas to certain types of aircraft.
