China will hit back hard against US
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*BEIJING - China will hit back hard against the new US taxes on Chinese goods in an escalating trade war.*
*China will not only play defence in an escalating trade war with the United States, a widely read Chinese tabloid warned, as President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday.*
Beijing may also decline to participate in proposed trade talks with Washington later this month if the Trump administration goes ahead with the additional tariffs, the Wall Street Journal reported on Sunday, citing Chinese officials.
The Journal report quoted one senior Chinese advisory official saying China would not negotiate “with a gun pointed to its head.”
The United States and China have already levied duties on $50 billion worth of each other’s goods in an intensifying row that has jolted global financial markets in the past few months.
Last week, the world’s two biggest economies appeared to be making progress on the trade snag after the U.S. Treasury Department invited senior Chinese officials including Vice Premier Liu He for more talks.
