China's government said Friday it will retaliate for President Trump's tariff hike on Chinese goods by immediately imposing penalties of the "same scale" on American goods. The Commerce Ministry said it's also scrapping deals made with Washington in talks aimed at defusing a sprawling trade dispute, the AP reports. "The Chinese side doesn't want to fight a trade war, but facing the shortsightedness of the US side, China has to fight back strongly," a ministry statement said. "We will immediately introduce the same scale and equal taxation measures, and all economic and trade achievements reached by the two sides will be invalidated."
The statement offered no details of what US goods would be affected, but China announced possible targets in April including soybeans, light aircraft, orange juice, whiskey, and beef. "In today's era, launching a trade war is not in the global interest," the statement said, per Business Insider. "We call on all countries to take joint action, resolutely put an end to this outdated and regressive behavior, and firmly defend the common interests of mankind."
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