China stated, on Sunday, how Washington and Beijing’s intensifying trade war has not succeeded in making “America great again.” Instead, the trade war has only damaged the American economy. China stressed how, even though it hopes for a resolution as a result of talks between the two nations, it was not willing to make compromises on chief principles.
The increasing clash between the two top economies of the world has frightened markets and also generated fears regarding the worldwide economy. Beijing’s broadside is the most recent act in that clash.
The skirmish has deepened in the previous weeks, with trade talks held up, as the U.S. President Donald Trump has imposed new tariffs on Chinese imports and banned tech firm Huawei based on security worries.
The white paper’s statement came one day after China reached U.S. goods valued at $60 billion with updated punitive rates starting from 5 and going to 25%, in response to Washington increasing duty on Chinese goods valued at$200 billion to 25%.
The trade war between Beijing and Washington continued last month following the conclusion of the most recent round of talks without a deal. The American representatives accused the Chinese negotiators of breaking their word regarding prior pledges.
However, China stated how the breakdown’s entire responsibility falls on the United States, and accused Washington of constantly altering its demands and of constructing irresponsible accusations regarding Beijing’s conduct during the talks.
Now that the talks have halted, the skirmish seems to be extending beyond just tariffs.
On Friday, Beijing stated how it intends to disclose its own list consisting of untrustworthy companies, personal. This appears to be a retort to the U.S.’s ban of Huawei.
It is expected that the tensions would ease and trade talks will resume when Donald Trump and President of People’s Republic of China XI Jinping meet this month at the G20 summit.