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  Business   In Other News  01 Aug 2018  China warns of retaliation if US takes more trade steps

China warns of retaliation if US takes more trade steps

AP
Published : Aug 1, 2018, 4:31 pm IST
Updated : Aug 1, 2018, 4:31 pm IST

Geng Shuang, warned that Beijing will "definitely fight back" to defend its "lawful rights and interests."

Trump administration will propose increasing the tariff rate on an additional USD 200 billion of Chinese imports. (Photo: Youtube)
 Trump administration will propose increasing the tariff rate on an additional USD 200 billion of Chinese imports. (Photo: Youtube)

Beijing: China's government has warned it will retaliate if Washington imposes new trade penalties following a report the Trump administration will propose increasing the tariff rate on an additional USD 200 billion of Chinese imports.

A foreign ministry spokesman, Geng Shuang, warned Tuesday that Beijing will "definitely fight back" to defend its "lawful rights and interests." He gave no details of possible retaliatory measures.

Bloomberg News reported, citing three unidentified sources, the Trump administration would propose imposing 25 percent tariffs on a USD 200 billion list of Chinese goods, up from the planned 10 per cent. The two sides have imposed 25 per cent tariffs on billions of dollars of each other's goods in a dispute over China's technology policy.

Tags: foreign ministry, geng shuang, trump administration, chinese imports, us sanctions