China accuses US of ‘trade bullying’ as fresh tariffs hit home
Beijing — The US and China imposed fresh tariffs on each other’s goods on Monday as the world’s biggest economies showed no signs of backing down from an increasingly bitter trade dispute that is expected to knock global economic growth. Soon after the new duties went into effect, China accused the US of engaging in "trade bullyism" and said it was intimidating other countries to submit to its will, the Xinhua news agency said, reiterating China’s willingness to fight if necessary. But Beijing also said it was willing to restart trade negotiations with the US if the talks are "based on mutual respect and equality", Xinhua said, citing a white paper on the dispute published by China’s State Council. US tariffs on $200bn worth of Chinese goods and retaliatory tariffs by Beijing on $60bn worth of US products took effect at midday Asian time, though the initial level of the duties was not as high as earlier feared. Stocks on Wall Street opened lower. Boeing, the biggest US exporter to C...
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