China responded to impose new tariffs on U.S Goods worth $60 billion

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The administration of U.S President Donald Trump threatened to impose new tariffs on Chinese goods. China immediately responded and announced an increase in tariffs against U.S goods worth $60 billion. The escalating trade war arrives following an apparent dissolve in U.S-Chinese trade negotiations. Trump warned China against retaliating to his new promises of tariffs in a series of misspelled tweets. He said the country would hurt very badly if the trade war were to continue. Beijing also said in a statement on early morning just before announcing its own new tariffs against the U.S goods that it would never surrender to external pressure. The move by China follows a U.S tariffs hike on $200 billion worth of Chinese goods.

I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!

— Donald J. Trump (@realDonaldTrump) May 13, 2019

The Chinese Finance Ministry said the new penalty duties will take effect 1 June and vary from 5% to 25% against a range of U.S products, including coffee, spinach, and batteries. On Monday, Trump tweeted, “I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries”. He added, “Too expensive to buy in China. You had a great deal, almost completed, & you backed out”! Last week, Trump also ordered U.S Trade Representative Robert Lighthizer to start imposing tariffs on all remaining imports from China. It was a move that would affect at least an additional $300 billion worth of goods.

Chinese state media also kept up a steady drum beat of strongly-worded commentary and reiterated that the country’s door to talks was always open, but vowing to defend the country’s interests and dignity. China’s top newspaper, the ruling Communist Party’s official People’s Daily, said in a commentary, “At no time will China forfeit the country’s respect, and no one should expect China to swallow bitter fruit that harms its core interests”. State television said in a separate commentary, “the effect on the Chinese economy from the U.S tariffs was totally controllable. It’s no big deal. China is bound to turn crisis to opportunity and use this to test its abilities to make the country even stronger”.