China vows to retaliate against Trump’s tariffs

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China vowed to retaliate against Donald Trump, saying the US president’s decision to slap tariffs on more than half of all Chinese imports had undermined efforts to reach a negotiated settlement and would spark counter-measures.

“We have been stressing that talks need to happen on the basis of parity, equality and good faith,” a foreign ministry spokesperson said at a daily briefing. “What the US has done shows no sincerity and good faith at all.”

In a separate statement, China’s commerce ministry, which led the last round of trade talks with the US, said Beijing would adopt “other tariff escalation measures”.

The statement appeared to be a reference to Beijing’s initial response to Mr Trump in August, when the US president first threatened to tax Chinese exports to the US worth more than $250bn.

The US action also drew a sharp response from the EU. “This escalation is very unfortunate”, Cecilia Malmstrom, the EU’s trade commissioner, told reporters. “Trade wars are not good and they are not easy to win”.

FT

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