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Offbeat China vows to fight back as the trade war escalates

10:11  11 july  2018
10:11  11 july  2018 Source:   businessinsider.com

China issues U.S. travel warning amid trade tensions

  China issues U.S. travel warning amid trade tensions China's embassy in Washington has issued a security advisory to Chinese nationals traveling to the United States, the latest such warning as trade tensions escalate between the two countries. The embassy warned Chinese tourists to be aware of issues including expensive medical bills, the threats of public shootings and robberies, searches and seizures by customs agents, telecommunications fraud and natural disasters."Public security in the United States is not good. Cases of shootings, robberies, and theft are frequent," the embassy said in the alert published on Thursday to its website.

In Beijing, a Commerce Ministry spokesman said China doesn't want a trade war — but isn't afraid to fight one. But economists warn that the tit-for-tat moves bear the hallmarks of a classic trade rift that could escalate .

China has vowed to fight the U.S. at "any cost" as trade tensions escalate . President Trump threatened 0 billion in new tariffs on Chinese goods after

a man standing in front of a building © Provided by Getty

It's now safe to say that a trade war is underway between the United States and China.

Following the introduction of reciprocal tariffs on $34 billion of the others imports on Friday, the US, as promised, has announced a new list of 6,000 Chinese goods, totalling $200 billion, that may be hit with additional 10% tariffs by the end of next month.

China's Commerce Ministry has vowed to retaliate to the countermove.

"The Chinese side is shocked by the actions of the US," it said in a statement, according to a translation by Google.

"In order to safeguard the core interests of the country and the fundamental interests of the people, the Chinese government will, as always, have to make the necessary counter-measures."

It vowed to immediately file an additional lawsuit against the US to the World Trade Organisation.

The Commerce Ministry also called upon the international community to "work together to safeguard the rules of free trade and the multilateral trading system and jointly oppose trade hegemonism".

"The behavior of the US is hurting China, hurting the world, and hurting itself," it said. "This irrational behavior is unpopular."

China just recorded the largest trade surplus with the US on record .
<p>In what will do little reduce trade tensions between the two sides, China's trade surplus with the US jumped to $US28.97 billion, larger than the $US24.58 billion recorded in May.</p>Load Error

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