China has hits back as the trade war between the world’s two largest economies escalates.
Beijing will levy tariffs on about 51 billion euros worth of American goods in retaliation for new US tariffs on 170 billion euros of Chinese imports.
But the situation is not equal in this trade war
With the latest round of tariffs China has taxed almost everything it imports from the US, whilst the US still has half of all Chinese imports to tax out of the total 430 billion euros.
So what is on those lists? With 6 thousand items on 200 pages it is easier to say what is NOT.
The US document includes furniture, handbags and seafood, making its targets very consumer oriented.
That most probably means that the Americans might end up paying more for Chinese items.
As for China’s list, it includes some agricultural products – what Donald Trump sees as politically important.
Before the news from China was announced, Trump unleashed his threats on Twitter saying “China is “actively” trying to change the U.S. election by attacking these American workers “because of their loyalty to me.”
“They also know that I am the one that knows how to stop it”
He then threatened to tax basically all of China’s imports.