China on Sunday said that Washington’s escalating trade war with Beijing has not made America great again and has instead damaged the American economy stressing that while it wants resolution through talks it will not compromise on core principles.
The Chinese government has released the comments which came in a white paper a day after it hit USD 60 billion worth of US goods with new punitive tariffs ranging from 5-25% in retaliation for Washington raising duty on USD 200 billion in Chinese goods to 25 percent.
The paper released by the Chinese government reads as, “The (US) tariff measures have not boosted American economic growth. Instead, they have done serious harm to the US economy. It also pointed on the increased production costs and consumer prices in the United States and threats to economic growth.
It was on last month that Washington and Beijing resumed their bruising trade battle when the latest round of talks ended without a deal with American negotiators accusing their Chinese counterparts of reneging on previous commitments.
But it was China who said that the US should bear the sole and entire responsibility for the breakdown accusing Washington of repeatedly changing its demands and of making reckless allegations about Beijing’s conduct during the negotiations.
The top two economies of the world have so far exchanged tit-for-tat tariffs on two-way trade worth hundreds of billions of dollars which have sparked worries about global economic growth.