Beijing defiant as new tariffs are imposed by US, China

Shipping containers seen at a port in Shanghai, China, on July 10, 2018.
Shipping containers seen at a port in Shanghai, China, on July 10, 2018.PHOTO: REUTERS

The United States and China imposed fresh tariffs on each other's goods yesterday, as the world's biggest economies showed no signs of backing down from an increasingly bitter trade dispute that is expected to affect global economic growth.

Soon after the new duties went into effect, China accused the US of engaging in "trade bullyism" and said it was intimidating other countries to submit to its will, the official Xinhua news agency said, reiterating China's willingness to fight if necessary.

But Beijing also said it was willing to restart trade negotiations with the US if the talks are "based on mutual respect and equality", Xinhua said, citing a White Paper on the dispute published by China's State Council.

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A version of this article appeared in the print edition of The Straits Times on September 25, 2018, with the headline 'Beijing defiant as new tariffs are imposed by US, China'. Print Edition | Subscribe