Trade war tensions between China and the United States further intensified yesterday when China announced a new round of retaliatory tariffs on American goods.
The action was in response to the Trump administration's decision to implement tariffs on thousands of Chinese products worth USD200 billion.
READ MORE: A Full List of All 128 US Products China Just Slapped Tariffs On
China's tariffs come into effect simultaneously with the American ones on Monday, September 24. The products impacted are worth USD60 billion, and include everything from meat and liquor to furniture and auto parts, according to CNN. Natural gas and computers are also included, BBC reports.
The exchange of blows between the two countries has raised concerns among some Americans. Dean Garfield, CEO of the Information Technology Industry Council, called President Donald Trump’s decision to continue the trade war "reckless." Garfield also predicted lasting damage to communities, increased prices on everyday goods and decreased leadership in developing crucial technologies, according to Chinese state-run news agency Xinhua.
The American Chamber of Commerce in South China, meanwhile, released a statement urging both sides to engage in dialogue, writing:
"The strength of the US and Chinese economies is inextricably linked to trade and foreign investment, and both countries stand to gain significantly from cooperation. While the previous rounds of tariffs have had a negative impact on the business community in China, the additional USD200 billion tariffs levied by the US government on more than 5,000 items will further intensify the trade friction between the two countries and bring far-reaching consequences to American consumers, US companies in China, and Chinese companies with operation in the US.
"AmCham South China urges Washington and Beijing to deal with trade issues through continuous dialogue and negotiation, and encourages both sides to return to the negotiation table and seek alternative mutually beneficial solutions."
President Trump remains confident. In a tweet posted on Monday, he wrote: “Tariffs have put the U.S. in a very strong bargaining position... If countries will not make fair deals with us, they will be “Tariffed!”
Image via @realdonaldtrump/Twitter
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