China Vows Retaliation Against U.S. for Higher Tariffs as Talks Continue

China vowed to retaliate against the United States for President Trump on Friday sharply hiking tariffs on exports from the world’s second-biggest economy, as trade negotiations between the two nations resumed.

One minute after midnight on Friday the U.S. increased tariffs on $200 billion worth of Chinese exports to 25 percent from 10 percent.

Trump tweeted Friday that the U.S. only sells China approximately $100 billion in goods and products, which he said is a “very big imbalance.”

He also tweeted that if “we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else.”

Beijing promptly vowed to retaliate with “necessary countermeasures” in a major escalation of the year-old trade conflict that has roiled global stock markets and increased costs for consumers.

Click to continue reading this Fox Business article.