foreign trade

China: Potential Trade War Not a ‘One-Way Street’

Dan Industry News Release, Trade

foreign trade war
Officials in China are warning a potential trade war between the U.S. in China would not serve as a ‘one-way street.’ The comments stem from the possibility President-Elect Donald Trump could impose tariffs on Chinese goods, sparking a feared trade war between the two nations. Beijing has signaled some optimism regarding the issue as Trump has backed off of some other campaign pledges. Still, as Bloomberg reports, the message from China is that any move to tax Chinese imports would bring retaliation, the U.S. economy would take a hit and America would damage its longstanding ties with Asia. China’s Foreign Affairs Committee chair said a trade war is not something China wants, but while referring to Trumps campaign pledges regarding trade with China, warned: “It won’t be one-way traffic.” For now, Bloomberg speculates China has a two-pronged response to Trump: Warn him of the consequences of unilateral action and accelerate efforts to secure an Asia-wide trade pact that does not include the United States.

From the National Association of Farm Broadcasting news service.