Leading daily says China to fight back new US move

China has threatened to take countermeasures against the United States as a trade war between the two countries enters a new phase.

China’s ruling Communist Party's People's Daily said on Sunday Beijing “will never waver in its stand on countering any provocations by the US side."

The popular paper, which voices the views of the state, expressed confidence that the Americans will not win the trade war because of the plight faced by US farmers and businesses.

The Chinese finance ministry announced on Friday that it would place additional tariffs of 5% or 10% on US imports worth $75 billion starting September 1 and December 15.

The new tariffs will target 5,078 products, including American soybeans, coffee, seafood and crude oil.

The ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts.

The tariffs would be 25% for vehicles or 5% on parts, and would take effect on December 15.

Last week, Beijing warned it would take countermeasures after Washington announced it would impose 10% tariffs on Chinese imports worth $300 billion.

China’s retaliation for Donald Trump’s latest planned levies on Chinese goods targeted the heart of the US president’s political support -- factories and farms across the Midwest and South.

China’s retaliatory move was met with Trump’s angry reaction, threatening to sever business ties which sent stocks tumbling further on concern that US-China trade talks were falling apart.

SS