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Trumps China Tariffsand Beijings Response, Explained [Video]

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Canadian Economy and Markets

President Donald Trump’s trade war with Canada, Mexico, and China is ramping up over the production and importation of the opiate fentanyl, along with trade surpluses and illegal border crossings by migrants from across the globe.

Here is what Beijing says about it:

What has been China’s reaction so far?

China has reiterated its threat to take “necessary countermeasures to defend its legitimate rights and interests” following Trump’s decision to impose 10% tariffs on China for allegedly doing too little to stem the production of precursor chemicals for fentanyl.

The Foreign Ministry statement issued Sunday did not mention any specific retaliatory measures, but said “China calls on the United States to correct its wrongdoings, maintain the hard-won positive dynamics in the counternarcotics cooperation, and promote a steady, sound and sustainable development of China-U.S. relationship.”

China says the U.S. action violates World Trade Organization rules and has vowed to bring a case before …

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