By UPI Topic – Business – UPI.com
April 8 (UPI) — Beijing will retaliate if President Donald Trump makes good on his threat to impose a further 50% tariff on Chinese exports, the Asian nation’s commerce ministry said Tuesday.
“If the United States upgrades tariff measures, China will resolutely take countermeasures to protect its rights and interests,” the ministry said in a statement.
Trump has thrice imposed import tariffs on China since returning to the White House in January, starting with 10% tariffs that took effect Feb. 4, which were increased to 20% the next month. Trump last week then announced an additional 34% tariff as he hit dozens of countries with tariffs.
China retaliated Friday with a 34% increase in tariffs against U.S. imports, prompting the American president on Monday to announce that an additional 50% tariff would go into effect against China on Wednesday — attracting the ire of Beijing.
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