China 'wont hesitate' to fight back if America escalates trade dispute

US and China's'tit-for-tat trade war sparks heated discussion

US and China's'tit-for-tat trade war sparks heated discussion

"If the United States takes any action to escalate the situation, China will not hesitate to fight back".

"Much of it has been hyperbole, but financial markets have had to price in the risks of a full-blown trade war zapping global growth", Mr Oliver said in a note to investors.

But Wall Street's gains were tempered by late-breaking news on an investigation into President Donald Trump's personal lawyer. This is "because it is the right thing to do".

A new tweet from the U.S. President does not really does not explain why President Trump is optimistic about resolving an escalating trade spat between the world's two largest economies. Moody's said it expected that the negative impact a trade war would have on both countries would prevent a full-fledged escalation of the trade war.

Japan, which relies on the United States for 19% of its exports and on China for another 19%, would face a relatively low direct impact from the tariffs, according to Marcel Thieliant, senior Japan economist at Capital Economics. On Wednesday, April 4, China met its words and responded in kind with approximately $50 billion of their own tariffs.

China through the Chinese Commerce Ministry and its spokesman Gao Feng, said that China will not hesitate to respond if the United States adds additional tariffs.

Following China's retaliation, worth about $3 billion of USA exports, the United States Trade Representative's Office released a list of proposed tariffs on an array of Chinese-made technological products worth approximately $50 billion on April 3. Now that China and the USA are both "even" in terms of self-inflicted misery, maybe they'll come to their senses and back off, or maybe they'll dig down and continue the trade war.

As a businessman, I have been encouraged by the US administration's pro-business policies, like lowering corporate taxes.

Conflicting messages have come out, from the American administration, in the recent days. The U.S. bought more than $500 billion in goods from China previous year and now is planning or considering penalties on some $150 billion of those imports.

The new White House economic adviser, Larry Kudlow, has said, in an interview, that the U.S.is "not in a trade war".

Witnesses in the hearing include Dean Garfield, president of the Washington-based trade association Information Technology Industry Council, and Thea Lee, president of Economic Policy Institute, a think tank also based in the United States capital. China's retaliation so far has targeted Midwest farmers, many of whom were bedrock Trump supporters.

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