China issued a statement Thursday warning they would take action if the U.S. moves ahead with 10 percent tariffs on some Chinese goods on September 1.
The China cabinet said they would take unspecified "necessary countermeasures” if the U.S. tariffs move ahead. The one-line statement did not indicate what the countermeasures would be nor did they mention the announcement by the U.S. that a portion of the tariffs would be delayed until December 15.
Originally, the Trump administration said 10% tariffs on $300 billion in Chinese goods would start September 1, but Tuesday’s announcement pared the level of goods down to around $112 billion. The Chinese statement also made no mention of the in-person talks in September.
China’s Finance Ministry issued a statement that indicated the tariffs would run counter to the agreement President Donald Trump and Chinese President Xi Jinping reached in June and they would get off the right track of resolving disputes via negotiation.
Meanwhile, President Donald Trump said on Twitter that “good things were stated on the call with China the other day,” a reference to the telephone discussions between U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin and key Chinese officials.
“They are eating the Tariffs with the devaluation of their currency and ‘pouring’ money into their system,” Trump tweeted. “The American consumer is fine with or without the September date, but much good will come from the short..... ..deferral to December. It actually helps China more than us, but will be reciprocated.”
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