TIT FOR TAT

China Says It Must Retaliate Against Trump's New $200 Billion Tariffs

Beijing says it “deeply regrets” president’s latest escalation of trade war.

China will reluctantly retaliate against the imposition of $200 billion of new trade tariffs imposed on it by the Trump administration, the Commerce Ministry in Beijing has declared in a statement. The ministry gave no details about what countermeasures it would take, but said the U.S. was to blame for destabilizing relations between the two countries and bringing uncertainty to global trade. “We deeply regret this,” according to the statement, in response to the Trump tariffs announced Monday. “In order to safeguard its legitimate rights and interests and the global free-trade order, China will have to counter the system. The U.S. insists on increasing tariffs, which brings new uncertainty to the consultations between the two sides. It is hoped that the U.S. will recognize the possible negative consequences of such actions and take convincing means to correct them in a timely manner.”