China to retaliate against new U.S. tariffs, stoking fear of trade war

미, 중국산 수입품에 54조원 '관세 폭탄'••• 미•중 무역전쟁

The Trump administration announced a host of new tariffs on goods from China.
The decision follows a seven-month investigation into what Washington calls Beijing's theft of intellectual property..., an issue that's long stood in the way of the two country's trade relations.
The Asian giant vowed to formulate a resolute response.
Park Hee-jun zooms in on what could be a prelude to a trade war.
U.S. President Donald Trump's plan to impose tariffs on up to 60 billion U.S. dollars worth of Chinese goods... has stoked fears of a trade war between the world's two biggest economies.
According to Trump, China is responsible for the loss of thousands of American jobs and a U.S. trade deficit worth hundreds of billions.

"But we have a trade deficit, depending on the way you calculate it, of 504 billion dollars. Now some people would say it's really 375 billion dollars. Many different ways of looking at it but any way you look at it, it is the largest deficit of any country in the history of our world. It's out of control."

But the administration said it's a retaliatory move against what it calls China's use of pressure and intimidation to steal U.S. intellectual property.
In addition to the tariffs, the Trump administration also plans to restrict new Chinese investment in America and take action against China at the World Trade Organization for what it calls unfair trade practices.

The Chinese embassy in Washington, vowed to “fight to the end” in any trade war with the United States.
Beijing's Commerce Ministry also announced in a statement that it plans to slap a 15-percent tarriff on 120 categories of American agricultural and steel goods, and take legal action against the U.S. at the WTO.

The prospect of a global trade war sent stock markets reeling.
The Dow Jones Industrial Average fell almost 3 percent after the announcement,... and fears were even more evident in Asian markets, where in Hong Kong the Hang Seng fell as much as 3.7 percent and Japan's Nikkei by about 3.9 percent.

Park Hee-jun, Arirang News.

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[Haider_Waseem_]

Trade war is good r u fucking kidding me, No war is good Mr. Donald Trump.