The U.S. Trade Representative’s office filed paperwork to formally raise tariffs to 25% from 10% on about $200 billion a year of Chinese imports effective on Friday, carrying through on a threat made by President Trump over the weekend as talks with Beijing deteriorated.
China responded Wednesday by saying it will retaliate if the U.S. moves forward.
“The escalation of trade friction is not in the interest of the people of the two countries and the people of the world,” a Chinese Commerce Ministry spokesman said via the official Xinhua News Agency. “The Chinese side deeply regrets the action. If the U.S. tariff measures are implemented, China will have to take necessary countermeasures.”