China vows to fight US 'at any cost' as trade spat worsens

[DonViejo]

Source: Associated Press




By JILL COLVIN and GILLIAN WONG
1 hour ago

WASHINGTON (AP) — China vowed on Friday to fight the U.S. “at any cost” after President Donald Trump proposed slapping an additional $100 billion in tariffs on Chinese goods in an escalating trade dispute between the world’s two largest economies.

Trump’s surprise move Thursday to instruct the U.S. trade representative to consider the additional tariffs came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to slap tariffs on $50 billion in Chinese imports.

In Beijing, the Commerce Ministry said China doesn’t want a trade war — but isn’t afraid to fight one. “China will dedicate itself to the end and at any cost and will definitely fight back firmly” if the U.S. persists in its “protectionism,” the ministry said in a statement.

Trump’s proposal intensified what was already shaping up to be the biggest trade battle since World War II. Global financial markets had fallen sharply as the world’s two biggest economies squared off over Beijing’s aggressive trade tactics. They calmed down Wednesday and Thursday on hopes the U.S. and China would find a diplomatic solution but slid Friday after Beijing said it would fight the Trump administration’s latest threats.

Read more: https://www.apnews.com/57a8583b888845ab806d05ba18bfb6bd/China-vows-to-fight-US-'at-any-cost'-as-trade-spat-worsens

[ProudMNDemocrat]

1. Trump voters are going to hurt the most......

MAKE AMERICA POOR AGAIN!

Just watch! Consumer spending drops like a brick because Walmart shoppers are not hoing to buy cheap China made products.

Farmers see their crops rot. Beef and Pork producers see their incomes fall. Everything goes up in price. I am seeing that in the fabrics I use for my business.

[Bayard]

2. Does Congress have any say so in this?

[greymattermom]

3. Here's an interesting chart

China is the largest buyer of soy grown in ... Canada. More to come.
http://soycanada.ca/statistics/soybean-exports-dollars/

[yallerdawg]

4. "On good authority."

Link to tweet

[woundedkarma]

5. Putin has to be laughing his shirt off

While riding his favorite pony.

A trade war between the U.S and China? He's laughing so hard he's crying.. but in the most masculine of ways. Maybe a single tear dripping down his stone-cold face.

China is either falling for it or simply in on it. I wonder if they're really losing anything of if this just puts them in a better position to negotiate higher prices. (I've never understood why they don't just focus on the efficiency of their own economy) Maybe China will suddenly start selling to Russia? Here's their excuse... Cheap Chinese goods flowing into Russia sounds like it would work for both of them.

Speculation by a newb...

But still.. Putin is definitely enjoying his toys and games today.

[Timmygoat]

6. So anyway

Now we have this trade war with China, does anyone know where in the States Ivanka is having her stuff made?