US President Donald Trump on Saturday doubled down on his broad tariff procedures, claiming that China has been hit “much harder” than the United States in the continuing trade conflict between the country’s two largest economy.
His remarks came a moment after US stock markets tumbled, leading to concerns over a possible international crisis.
Taking to Truth Social, Trump defended the financial impact of his tax plan, calling it an “economic trend”. He wrote:” China has been hit significantly harder than the USA, not even close. They, and many other nations, have treated us unsustainably seriously. We have been the naive and defenseless’ whipping post,’ but not any more. We are bringing up jobs and companies like never before. Now, more than FIVE Million Bucks OF INVESTMENT, and rising quick! THIS IS AN ECONOMIC Revolutionary, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be traditional. We may, MAKE AMERICA GREAT AGAIN!! “!
Trump’s comments follow China’s statement that it will establish bilateral 34 % taxes on all US goods starting April 10. The move came in response to Trump’s personal determination to hit an extra 34 % tax on Chinese products entering the US, rising tensions and raising the stakes in the already strained US-China business partnership.
In a statement, China’s State Council Tax Commission condemned the US walk, calling it” a common punitive abuse exercise” that violates global trade norms and” seriously undermines China’s reasonable rights and interests”.
Trump, but, dismissed Beijing’s response as a sign of weakness. He claimed China had “panicked” following his Thursday statement of the novel taxes.
