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China Declares Trade War Launched After Trump Unveils $50B Tariffs

19 June 2018

The U.S. will implement a tariff on $50 billion in goods from China, the White House announced Friday, setting up a back-and-forth with the country that quickly retaliated with a tariff on products from the U.S.

The tariffs focus on products from China's industrial sector including aerospace, information and communications technology, robotics, industrial machinery, new materials and automobiles.

"All the economic and trade-related achievements previously reached by the two sides will be rendered invalid", the ministry said, referring to the results of earlier rounds of China-US trade talks.

"In this day and age, launching a trade war is not in the interest of the world", the statement read.

In response to Trump's decision, the Chinese government said it would levy tariffs against USA products and services.

China's finance ministry said it would respond with tariffs "of the same scale and strength".

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Trade between the two countries "has been very unfair, for a very long time", Trump said.

Earlier, the Trump administration announced a 25% tariff on $50 billion worth of Chinese imports.

Trump has already slapped tariffs on steel and aluminum imports from Canada, Mexico, Europe and Japan, drawing a rebuke from USA allies.

In a statement, the president said: "The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices".

A second round of tariffs, to be imposed on an unspecified date, on 114 items worth $16 billion will mostly hit chemicals, medical equipment and energy products.

The US trade representative's office said it issued a revised China tariff list covering 1,102 separate product categories.

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During an impromptu appearance on the White House North Lawn, the president hailed his "very big tariffs" on China.

The government will start to collect the tariffs July 6. It also added, "China is a powerful guardian and has enough ammunition to defend existing trade rules and fairness".

Trump recently hit United States allies including the European Union, Canada, and Mexico with tariffs on steel and aluminum imports.

Indeed, Business Insider reported Republican Rep. Kevin Brady commenting: "My message has been consistent: we need to hit our target, which is China and its deceptive and harmful trading practices".

Officials in China have declared a trade war with the United States.

That's why dozens of businessmen and businesswomen from across the country came to Washington, D.C., last month to beg the administration to abandon its ill-conceived plan to tax Chinese imports.

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China Declares Trade War Launched After Trump Unveils $50B Tariffs