Mike Pompeo On China Trade War: "We Are Going To Win"

Irving Hamilton
September 24, 2018

China's move is bound to ratchet up its tensions with the US. The two countries already exchanged tit-for-tat tariffs on $50 billion worth of each other's goods earlier this year.

The effort crumbled a week after Trump tweeted the White House felt "no pressure" to resolve the dispute with China.

Economists warn that a protracted dispute will eventually stunt growth not just USA and China but across the broader global economy.

In a first, the Trump administration has also punished a unit of China's defense ministry for buying fighter jets and missiles from Russian Federation in defiance of sanctions on Moscow.

China cancelled trade talks with the USA and will no longer send Vice-Premier Liu He to Washington next week, the Wall Street Journal reported, citing unidentified people briefed on the matter.

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China has scrapped trade talks with the United States days before President Donald Trump is set to escalate the commercial battle with a new round of tariffs, according to a person familiar with the discussion.

Phone inquiries to the Ministry of Commerce went unanswered Saturday.

Pompeo told Fox News on Sunday.

China imports far less from the United States, making a dollar-for-dollar match on any new USA tariffs impossible.

Instead, it has warned of "qualitative" measures to retaliate. The Trump administration has also called on China to allow US companies greater access to Chinese markets and to cut its USA trade surplus.

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