(From AP News)
China fired back Saturday in a spiraling trade dispute with President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans, electric cars and whiskey.
The government said it was responding in “equal scale” to Trump’s tariff hike on Chinese goods in a conflict over Beijing’s trade surplus and technology policy that companies worry could quickly escalate and chill global economic growth.
China “doesn’t want a trade war” but has to “fight back strongly,” said a Commerce Ministry statement. It said Beijing also was scrapping agreements to narrow its multibillion-dollar trade surplus with the United States by purchasing more American farm goods, natural gas and other products.
Beijing will impose an additional 25 percent tariff starting July 6 on 545 products from the United States including soybeans, electric cars, orange juice, whiskey, lobsters, salmon and cigars, according to the Ministry of Finance.