China Threatens Countermeasures If Washington Implements New Tariffs - FbiCables Network | The News that Shapes World Opinion

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Saturday, August 03, 2019

China Threatens Countermeasures If Washington Implements New Tariffs

President Trump recently sent a stern warning to China for not living up to its promises regarding a possible trade deal. Beijing has responded with its own threats. In a statement Friday, China’s Commerce Ministry said there will be “necessary countermeasures” if Washington implements another tariff hike.
This comes after the president announced the U.S. will slap a 10-percent tariff on the remaining $300 billion worth of Chinese goods starting September 1st. Chinese commerce officials claimed their country doesn’t want a trade war, but said it isn’t afraid of fighting one either.
White House chief economic adviser Larry Kudlow talks to reporters outside the White House, Friday, Aug. 2, 2019, in Washington. (AP Photo/Evan Vucci)
Economic Council director Larry Kudlow commented on the possible effects of the new China tariffs on U.S. residents early Friday at the White House:
“Any consumer impact is very, very small, minuscule. By the by, consumer spending and consumer wages and salaries and consumer savings are all booming. It’s the strongest part of the economy, so that’s the underlying fact. And I would also add in economic terms we believe, and we’ve looked at these numbers again and again, that economic burdens have fallen most heavily on China. They’ve had to slash prices to try to compete, that has done damage to their profits and their companies and their economy is in a very big slowing mode.”
The retaliatory threats come as Chinese stocks are reportedly feeling the heat from the President Trump’s tariffs.

China is doing very badly, worst year in 27 - was supposed to start buying our agricultural product now - no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years....
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