TRADE WAR: China plans tariffs on $75B US goods, Trump vows

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Myron Brilliant, executive vice president and head of international affairs at the US Chamber of Commerce, issued the following statement in response to China’s new tariffs on US goods:

“Today’s Chinese retaliation is unfortunate but not unexpected. The fact of the matter is that nobody wins a trade war, and the continued tit-for-tat escalation between the US and China is putting significant strain on the US economy, raising costs, undermining investment, and roiling markets. It’s time to get back to the table and complete an agreement that deals with the thorny issues of tech transfer, IP enforcement, market access, and the damaging global impact of subsidies.”

Beijing earlier today unveiled a new round of tariffs on $75 billion worth of US imports, including soybeans and crude oil what triggered Trump to a Tweetstorm.

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