China called looming U.S. tariffs as a violation to the accords made between presidents Trump and Xi Jinping, vowing also retaliation as Beijing also pushed back on Trump´s effort to link trade war to the recent turmoil in Hong Kong.
The plans for a 10% tariff on more then USD 300 billion in Chinese imports have taken U.S. and China further away from resolving their dispute through negotiation.
A foreign affair ministry spokeswoman expressed hope that the U.S. would leave Hong Kong as an internal matter for the Chinese government to deal with. Trump said that an agreement with China has to be “on our terms” according to Fox News.
Trump also announced the tariffs set for September 1 and December 15. China has also halted the purchases of agricultural goods allowing the yuan to weaken even more.
In China´s statements, indicates that Beijing doesn’t think the U.S. delaying some tariffs is enough, said Zhou Xiaoming, former ministry of Commerce. China is sticking to the position that no new duties should be imposed, adding that China´s retaliation “may not be limited to tariffs”.
Source:
Bloomberg News (Bloomberg)
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