CHINA THREATENS $1.9 TRILLION ‘TSUNAMI’ in tariff war with U.S…. Chinese Embassy: ‘We don’t back down.’

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“China is preparing for a ‘prolonged economic warfare’ with Donald Trump after the president added additional tariffs on Beijing, while announcing a pause for other trading partners.

The Communist nation has spent years fostering a strategy that transitioned from building housing to $1.9trillion constructing factories to make cheap goods for export, seeing them rise 13 percent and 17 percent in 2023 and 2024.

Now, Chinese companies who had previously responded to Trump’s tariffs by offering discounts to longtime U.S. clients are willing to forego the American market entirely as they attempt to find new buyers.

Joe Biden’s trade representative Katherine Tai sounded the alarm of factories closing in America and worldwide to The New York Times: ‘The tsunami is coming for everyone.’

China has started taking action against American companies, adding half a dozen to a trading blacklist, including Shield AI and Sierra Nevada.

Another 12 American companies – including American Photonics and BRINC Drones – now face export controls, according to The Wall Street Journal.

Trump announced a 125 percent tariff on China Wednesday morning, after the country had slapped a ‘revenge tariff’ of 84 percent on the United States in response to the ‘Liberation Day’ duty.

The president also announced a 90-day pause on all new ‘reciprocal’ tariffs on Wednesday, in a major reversal which caused one of the biggest stock market rallies in history, singling out China for its ‘lack of respect… to the World’s Markets.'”

https://www.dailymail.co.uk/yourmoney/article-14590637/China-threatens-unleash-tsunami-world-drawn-tariff-warfare.html?ns_mchannel=rss&ns_campaign=1490&ito=social-twitter_mailonline