'Protectionism leads nowhere': China on US tariffs; vows countermeasures

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'Protectionism leads nowhere': China on US tariffs; vows countermeasures - Business Standard

Quick Summary:

China on Thursday said it would resolutely adopt countermeasures after President Donald Trump imposed 34 per cent tariffs on its over USD 438 billion imports to America, but put off any immediate retaliatory action leaving room for a negotiated deal.

The Chinese Commerce Ministry hit out hard on Trump's tariffs on its exports to the US, third largest after ASEAN and EU, However, its spokesperson skirted questions about an immediate action by China.

Trump announced reciprocal tariffs on Chinese imports on Wednesday as part of sweeping measures aimed at reshaping American trade policy.