G-7 summit

China will fight back against latest tariff hike: State media

US President Donald Trump said that Washington will impose an additional 5 percentage point duty on Chinese goods.
US President Donald Trump said that Washington will impose an additional 5 percentage point duty on Chinese goods.PHOTO: AFP

BEIJING • China will fight back against the latest US step to increase tariffs on Chinese goods, the ruling Communist Party's People's Daily said yesterday amid an escalating trade war between the world's two largest economies.

"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 US side," the newspaper said in a commentary.

United States politicians, seeking to hamper China's economic development, still want to use the tactics of exerting maximum pressure on China that have achieved few results, the paper said.

US President Donald Trump said last Friday that Washington will impose an additional 5 percentage point duty on Chinese goods, hours after Beijing announced its latest retaliatory tariffs on about US$75 billion (S$104 billion) worth of US goods in the latest tit-for-tat moves in their trade dispute.

 
A version of this article appeared in the print edition of The Straits Times on August 26, 2019, with the headline 'China will fight back against latest tariff hike: State media'. Print Edition | Subscribe