Aug 24, 2019

China plans to fight Trump's trade war tariffs "until the end"

Photo Nicolas Asfouri/AFP/Getty Images

An official Chinese media outlet, the People's Daily, has fired back at President Trump's latest round of "barbaric" tariffs, and said they will keep fighting in the trade war "until the end," reports the South China Morning Post.

What they're saying: The commentary piece said that China has the strength to continue fighting the trade war, "and will not fear any challenge." China announced tariffs against American goods on Friday morning, and Trump announced retaliatory tariffs of his own later that day.

Go deeper: Trump escalates tariffs on hundreds of billions in Chinese imports

Go deeper

Trump trade war: 15% tariffs on Chinese imports take effect

Illustration: Rebecca Zisser/Axios

The Trump administration's trade war with China entered a new phase on Sunday morning as new 15% tariffs on about $110 billion of Chinese imports took effect, Bloomberg reports.

Why it matters: Per the New York Times, the move changes the rules of trade in ways that have no recent historic precedent. "This is the first time U.S. consumers will see the costs quite directly, right as we head into the busiest shopping time of the year," Western Washington University economics professor Edward Alden told the Washington Post. China has introduced retaliatory taxes, the first phase of which came into effect Sunday.

Go deeperArrowUpdated Sep 1, 2019

Trump delays tariff increases on Chinese goods ahead of trade talks

Photo: Thomas Peter-Pool/Getty Images

President Trump announced on Twitter Wednesday he would delay the increase on existing tariffs on $250 billion worth of Chinese goods ahead of the U.S. resuming trade talks with China.

Why it matters: There's evidence that the U.S.-China trade war has hurt both of the world's 2 leading economies. It's dented consumer sentiment and a survey of members of the American Chamber of Commerce in Shanghai released Wednesday found 51% said U.S. and Chinese tariffs had a negative effect on revenue.

Go deeperArrowSep 11, 2019

China exempts import tariffs on some U.S. goods ahead of trade talks

Photo: Johannes Eisele/AFP/Getty Images

China's Ministry of Finance announced in a statement Wednesday that it's exempting 16 types of exported U.S. goods from import tariffs ahead of stalled trade talks resuming with the Trump administration. The exemption is effective Sept. 17 through Sept. 16, 2020.

Why it matters: President Trump's trade war has led to bigger trade deficits with China, it's dented consumer sentiment, and the International Monetary Fund has said the prolonged tensions weighed down the global economy.

Go deeperArrowSep 11, 2019