If in the East Donald Trump threatens to impose new customs duties for over 200 billion dollars on 'Made in China' products, bringing them from 10% to 25% with the aim of restoring order to the negotiating table, in the East Xi Jinping hastens to retaliate: Beijing has, in fact, already identified goods imported from the US for an amount equal to 60 billion dollars on which to impose new tariffs, according to reports by the Chinese Ministry of Commerce.
Yesterday the dicastery had warned that China was "fully prepared for reprisals to protect the dignity of the country and the interests of the people, to defend free trade and the multilateral system and to defend the common interests of all countries".
The new American measures are added - envisaged since July 6 with duties at 25% on 34 billion of Chinese goods - to the duties already imposed on solar panels, washing machines and steel and aluminum imported by the Asian dragon.
Trump said last month he was willing to sanction everything China imports, worth more than $500 billion a year. "The carrot-and-stick tactic won't work," China's commerce ministry said.
The shadow of a renewed trade war between Washington and Beijing has depressed half the world's stock exchanges in past sessions. Chinese stocks posted further declines today, with Shanghai closing down 0,61% and Hong Kong down 0,11%
