Trump intensifies trade war with China, warns of 'economic war'
The echoes have not quietened after Donald Trump imposed huge tariffs on products from China. The American president even stated that his country should prepare "in case of war." Beijing warns the USA against using such rhetoric.
Donald Trump imposed substantial tariffs on Chinese products, reaching up to 145%. In response, Beijing decided to implement so-called retaliatory tariffs, set at 125%.
The President of the United States was not deterred by China's response. Moreover, Trump is already announcing additional tariffs. He wants to include, among other things, pharmaceuticals from China. He explains that his country must be ready "for war." He also mentions an economic war with the Chinese.
Donald Trump told reporters that their medications would be manufactured in the United States, ensuring the country wouldn't need to depend on China or other nations in the event of war or another crisis. He emphasized that relying on foreign sources is not an ideal approach.
Beijing sharply responded to Donald Trump's words. Chinese President Xi Jinping, during his trip to Vietnam, stated that such an approach by the United States could have far-reaching consequences for the global economy.
"There are no winners in a trade war, or a tariff war,". "Our two countries should resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and cooperative international environment." - Xi Jinping conveyed, as reported by the "Daily Mail".
Americans are in turn concerned about China's actions, which have suspended, among other things, the export of rare earth metals. This could have a very negative impact on the American automotive and technology industries.
