Now in a tit-for-tat fight with the United States, the global superpower vowed Friday to retaliate if President Donald Trump makes good on his threat to apply tariffs to an additional $100 billion worth of Chinese goods.
President Trump's surprise move came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to slap tariffs on $50 billion in Chinese imports.
The trade gap has continued to rise since Trump entered the White House partly because the U.S. economy is strong and American consumers have an appetite for imported products and the financial wherewithal to buy them.
Unswayed by Republican warnings of a trade war, President Donald Trump ordered steep new tariffs on steel and aluminum imports to the U.S. on Thursday, vowing to fight back against an "assault on our country" by foreign competitors.
President Donald Trump's administration appears unbowed by broad domestic and international criticism of his planned import tariffs on steel and aluminum, saying the president is not planning on exempting any countries from the stiff duties.
Ordering combative action on foreign trade, President Donald Trump declared Thursday that the United States will impose steep tariffs on steel and aluminum imports, escalating tensions with China and other trading partners.