China has vowed to retaliate for the latest U.S. tariffs with new import taxes on $60 billion in American products. “For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies,” the president said. But, so far, China has been unwilling to change its practices.”The president has described the tariffs as leverage in negotiating Chinese policy changes with Chinese President Xi Jinping. Through July, the U.S. ran a $233.5 billion trade deficit in goods trade with China, an 8 percent increase compared with the same period in 2017. “China trade is now a presidential level, political issue.

Source: Washington Post September 17, 2018 22:39 UTC