(MENAFN- Khaleej Times) China fired back on Saturday in a spiralling trade dispute with US President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans, electric cars and lobsters.
China "doesn't want a trade war" but has to "fight back strongly", said the Commerce Ministry. It said Beijing also was scrapping agreements to narrow its multibillion-dollar trade surplus with the United States by purchasing more American farm goods, natural gas and other products.
Beijing will impose an additional 25 per cent tariff starting July 6 on 545 products from the US including soybeans, electric cars, orange juice, whiskey, lobsters, salmon and cigars, according to the Ministry of Finance. Most are food and other farm goods, hitting Trump's rural supporters hardest.
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