China strikes back at US with snark, new tariffs on 106 American imports

Are we in for a trade war between the world’s two largest economies?

Surprisingly, China appears to have taken a commanding lead in the war of words over the escalating trade conflict between the world’s two largest economies, issuing an uncharacteristically shade-filled response to US tariffs, before responding with some levies of its own.

Following the Trump administration’s announcement that $50 billion in tariffs would be placed on Chinese goods, ranging from electronics to machinery to shoes, the Chinese Embassy in Washington DC issued a statement “strongly condemning” these measures, but warning that it would respond in kind.

“As the Chinese saying goes, it is only polite to reciprocate,” the embassy said, reaching a new level in snark for official statements from Chinese authorities.

Soon after that statement was published, China announced tariffs on 106 US products. The 25% levy on US imports will include things like automobiles, airplanes, alcohol, and, of course, soybeans, adding up to a reciprocal $50 billion a year. When these tariffs will be put in place will depend on what course the US decides to take, Beijing said.

This is just the latest tit-for-tat in an escalating conflict which threatens to turn into an all-out trade war. Earlier this week, China slapped import taxes on some 128 different US products, including wine, pork, fruits, and nuts, worth about $3 billion a year in total.

That move came in response to the Trump administration decision last month to imposes taxes of 10% on aluminium and 25% on steel coming in from overseas.

Your move, Trump.