TGHusker
New member
China pushing back on the idea of large tariffs on all Chinese exports arguing that it will place great burdens on both economies.
Seems to me they, as a communist country, know more about how capitalism and free trade work than our elected capitalist president.
https://www.msn.com/en-us/money/markets/china-issues-warning-to-donald-trump/ar-AA1tKhUF?ocid=entnewsntp&pc=DCTS&cvid=4949b6d103de417da5d1d5272fcbfce6&ei=15
Seems to me they, as a communist country, know more about how capitalism and free trade work than our elected capitalist president.
https://www.msn.com/en-us/money/markets/china-issues-warning-to-donald-trump/ar-AA1tKhUF?ocid=entnewsntp&pc=DCTS&cvid=4949b6d103de417da5d1d5272fcbfce6&ei=15
China has fired the first shot in a renewed trade war between Beijing and Washington, D.C.
Beijing has warned President-elect Donald Trump against increasing tariffs on Chinese goods or risk inflicting losses on the American economy.
During his campaign, Trump threatened to slap 60% tariffs on all Chinese exports, which would be a blow to China's economy. Tariffs are a core component of Trump's "America First" economic policy, which aims to protect U.S. industries and promote growth.
His strategy that the economy was performing poorly under the Biden-Harris administration resonated with voters and helped to propel him back to the White House.
Liu Pengyu, spokesperson for the Chinese Embassy in the U.S., told Newsweek in an exclusive statement that intensified trade tensions could lead to negative outcomes for both nations.
"There is no winner in a trade war, nor will the world benefit from it. Further increasing tariffs on Chinese products will only significantly drive up the cost of imported goods, inflict more loss on American companies and consumers, and will eventually backfire," he said.