China accused the Trump administration Monday of “trade bullyism” for its aggressive trade policies, and laid out a demand for “mutual respect and equality” before any new talks to head off the looming trade war.
The comments came as President Trump’s latest round of tariffs against China, which add a levy of 10 percent to $200 billion worth of goods, officially went into effect.
In a statement Monday, the Chinese government said the U.S. administration âhas brazenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs,â according to a report by the state-run Chinese news agency Xinhua.
Intermittent talks between the U.S. and China have been held in recent months, with little progress being made. There are no talks currently scheduled.
[Opinion: Trump misplays his trade hand]
The Trump administration has accused China of predatory trade policies that put U.S. companies at a disadvantage, and has put tariffs on $250 billion worth of Chinese goods so far. The tariffs were 25 percent on the first $50 billion, and the ones on the remaining $200 billion worth of goods will rise to that tax rate next year.
President Trump has threatened tariffs on another $267 billion worth of goods, which would cover all remaining goods exported from China to the U.S. The U.S. has also placed tariffs on 25 percent on steel imports and 10 percent on aluminum imports, policies mainly directed at China.
China has responded by placing tariffs on about $120 billion worth of U.S. goods, covering virtually all imports. On Sunday the China Daily, Beijingâs official English newspaper, took the unusual move of purchasing a four-page ad in the Des Moines Register saying the trade war was hurting the state’s soybean farmers. Iowa, a heavily agricultural state, traditionally holds the first event in the presidential election process with its caucus.
