China Warns US "Opening Fire" On World With Tariff Threats

Stocks at Risk Wal Mart

China already has announced it will respond in kind on the same schedule as the United States while President Donald Trump has countered with a threat to double down by progressively ratcheting U.S. penalties up to a total of US$450 billion (RM1.83 trillion) in goods - which would represent the lion's share of all of China's exports to the United States. "As long as the United States issues a so-called tariff list, China will take necessary measures to firmly protect its legitimate interests", Chinese Foreign Ministry spokesman Lu Kang said at a daily news briefing.

The official China Daily has taken another swing against the USA policy. Beijing has pledged to retaliate with equal tariffs on $34 billion in USA goods.

The U.S. alert, also circulated in January, urged Americans to "exercise increased caution in China due to the arbitrary enforcement of local laws and special restrictions on dual U.S".

It shows the depth of Chinese concern about a trade war with Washington, as Trump is set to impose tariffs on billions of dollars worth of Chinese imports on July 6.

As the world's most powerful economy, the USA plays a vital role in global economic and trade rule-setting and it is always able to find seemingly plausible reasons for its initiative targeting China.

The CBN, in May, signed the agreement with the People's Bank of China to facilitate trade between the two countries and enhance foreign reserve management, making Nigeria the third country in Africa (after South Africa and Egypt) to sign such a deal with China.

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A second tranche of 284 goods valued at US$16 billion - which would bring the total to US$50 billion - will be targeted after they undergo an additional process of review and public comment, which could lead to a lower total. Now it is attempting to resort to an all-out trade and economic war to hold back China's normal development.

While Trump touts announcements of jobs created in steel plants due to the tariffs, manufacturing industries warn many more jobs will be lost in companies producing autos, auto parts, appliances and other goods that depend on imported components. "Security personnel have detained and/or deported USA citizens for sending private electronic messages critical of the Chinese government".

China has issued a safety warning to its citizens travelling to the United States amid rising tensions between the sides over accusations of unfair trading practices and other disputes.

He emphasised that USA tariffs on Chinese exports will hurt both Chinese and foreign firms. China's plans to move rapidly to electric vehicles mean that any new benefits it offers traditional European carmakers will be fleeting.

A second tranche of 284 goods worth $16 billion is now under review and could be added to the U.S. list. "Simply put, the United States is opening fire on the whole world, and also firing at itself".

China also has plans for a second round - but no start date - that would affect $16 billion of such USA goods as chemicals, coal, crude oil and medical devices. "It's unlikely to mark a systemic change".

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