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China plans to take action against US trade sanctions !

The recent trade wars between the two biggest economies of the world have intensify the relation between the two countries. The ruling Communist Party’s People’s Daily said on Sunday that, China is certainly not planning to just sit it will fight back against the US to increase the prices on Chinese commodities.

According to a newspaper, “China is confident that it will follow its own path and do its own things well, and will never waver in its stand on countering any provocations by the U.S. side,”

The newspaper reported that, U.S. politicians, seeking to hamper China’s economic development, still want to use the tactics of exerting maximum pressure on China that has achieved few results,.

The United States will not win the trade war because of the plight faced by its farmers and businesses, it said.

China stated on Saturday, that it strongly opposes Washington’s decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences if it does not end its “wrong actions”.

The U.S. President Donald Trump announced on Friday that Washington would impose an additional 5% duty on the Chinese goods, hours after Beijing announced its latest retaliatory tariffs on about $75 billion worth of U.S. goods in the latest tit-for-tat moves in their bilateral trade dispute.

This trade war has raised questions and worries about a global economic recession.

 

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