The latest tariff move by the U.S. has “seriously breached” the truce that Presidents Donald Trump and Xi Jinping agreed in Japan in late June and isn’t doing any good to trade talks, according to a People’s Daily commentary.
“It deviates from the correct track and is not conducive to solving the problem,” the paper, mouthpiece of the Communist Party said on Saturday. “The Chinese side is strongly dissatisfied and resolutely opposed.”
Trump announced Thursday that he would impose a 10% tariff on a further USD300 billion in Chinese imports, a move set to hit American consumers more directly than his other tariffs so far. The new duties will be imposed beginning Sept. 1 on a long list of goods expected to include smart-phones, laptop computers and children’s clothing.
“The U.S.’s escalation of trade frictions and tariffs are inconsistent with the interests of the Chinese and American people and the interests of the world and will have a declining impact on the world economy,” according to the commentary. “China is committed to international cooperation, but is not afraid of any extreme pressure.”
In a tweet, Trump said China hadn’t lived up to a promise Xi made in Osaka to buy U.S. agricultural goods and to halt illegal exports of fentanyl.
Chinese companies are making inquiries to buy more American farm products, the paper said. The country is willing to strengthen its cooperation with the U.S. on drug control, and is cracking down on illegal production and smuggling of fentanyl, it said. Bloomberg