United States President Donald Trump has called on China to put a full stop to the “unfair trade” and has threatened to impose new tariffs on Beijing, escalating the trade tiff between the two countries.
“The United States hasn’t had a Trade Surplus with China in 40 years. They must end unfair trade, take down barriers and charge only Reciprocal Tariffs. The U.S. is losing $500 Billion a year and has been losing Billions of Dollars for decades. Cannot continue!” the US President tweeted.
The two countries have been lately embroiled in a combative trade rhetoric.
Trump on Thursday had threatened to levy an additional $100 billion in tariffs on Chinese imports, which would be on top of the already $50 billion in duties in imports on other products.
Following this, China had vowed to fight “unilateral US protectionism at any cost”.
The Chinese Ministry of Commerce on Wednesday had said that it planned to impose a 25% tariff on $50 billion worth of US exports.
On March 23, Trump had imposed massive trade tariffs amounting to USD 60 billion on China, in an effort to stop the latter from stealing “intellectual property” from American companies.
None of the tariffs have come into effect.