China lashes out at Trump’s trade policy

Media playback is unsupported on your device                  Media caption The'danger of a US-China trade war

"If the United States act willfully and puts its additional tariff measures into effect, China will instantly implement such tariff measures", the commission said.

The latest issue from the worldwide edition of the ruling Communist Party's People's Daily newspaper called out Trump, stating that he was starring in his very own "street fighter-style deceitful drama of extortion and intimidation".

The Trump administration slapped duties on $34 billion of Chinese goods last month, a move that also prompted immediate retaliation from China. "I noticed today that Japan's stock market is now worth more than China's - I love that", he told journalists at the White House.

US President Donald Trump has defended his controversial use of tariffs against China and other countries, saying the trade measures are "working far better than anyone ever anticipated".

The US widened the tax net to cover Mexico, Canada, the European Union and India. He said his administration would continue to employ tariffs if other nations were unwilling to come to the table on trade.

"China is forced to take countermeasures", said a ministry statement.

Based on rational and thorough research and consultation, China's latest move takes into full consideration the interests of Chinese people and companies, and is expected to defend the multilateral trading system and global industrial chain, according to Chinese authorities and analysts.

A top Chinese state propaganda outlet has lashed out at US President Donald Trump, accusing him of launching a "deceitful drama" of a trade conflict and insisting that Beijing will not surrender to threats.

China said on Friday that it would respond to threatened tariffs from the United States with countermeasures of its own, and released a list of approximately 5200 U.S. products worth a total of $US60 billion that would be affected by customs duties of between five and 25 per cent.

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"Governing a country is not like doing business", the paper stated, adding the Trump's action compromised the national credibility of the United States.

China's new threat targeting a smaller amount of USA goods reflects the fact that Beijing is running out of products for retaliation due to its lopsided trade balance with the United States.

China's Finance Ministry on Friday accused the Trump administration of damaging the global economy after the US proposed increasing duties on $200 billion of Chinese goods in the second round of a dispute over technology.

As many as 5,207 USA products, including meat, coffee, nuts, alcoholic drinks, minerals, chemicals, leather products, wood products, machinery, furniture and auto parts were listed by China to be targeted for the "safeguard its own legitimate interests".

A first round of tariffs came into effect on 6 July, when the United States imposed 25% taxes on $34bn of Chinese imports. "They expect solid economic growth momentum amid policy fine-tuning", said an article in the official English-language China Daily newspaper, citing Chinese economists.

There is no evidence that the Chinese government is financing an advertising campaign in the United States to convince US politicians that Trump's approach is wrong.

The move was meant to bring China back to the negotiating table for talks over US demands for structural changes to the Chinese economy and a cut in the bilateral trade deficit. The U.S. can buy more because the economy is strong.

The result is that both China and the USA are now using government funds to stimulate areas of the economy.

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