China Warns Trade War With The US Could Lead to WORLD WAR 3
President Donald Trump warned China he will slap them with additional tariffs
China has warned that the continuing escalation of the country's trade war with the United States could lead to a repeat of the same disasters of the 20th century, as they did before World War 2.
President Donald Trump warned China he will slap them with additional tariffs, which is now causing mounting tension.
The Chinese envoy issued a dire warning to the US against a further increase of trade conflict, that could conceivably break the symbiosis of the two most significant global economies, crippling global trade.
“I don’t know if people realize the possible consequences – the impact, the negative impact – if there is such a decoupling,” Ambassador Cui Tiankai told Reuters in an interview, emphasizing that additional increase could recreate the desperate economic conditions that previously started World War II.
“The lessons of history are still there. In the last century, we had two world wars, and in between them, the Great Depression,” the ambassador said.
"I don’t think anybody should try to have a repetition of history. These things should never happen again, so people have to act in a responsible way.”
Trump has frequently told reporters that tariffs on an additional $267 billion worth of Chinese goods are ready to move, should Beijing decline the US demands and cease intellectual property theft.
Despite endeavoring to strike a deal with China, the President states that he remains strong in his dedication to terminate the massive trade deficit with China.
If Trump does decide to force further tariffs, the increased taxes will apply to a sum of just over $517 billion of Chinese goods
“The only deal that would be acceptable to me – other than obviously we have to do something on the theft of intellectual property, right – but the only deal would be China has to open up their country to competition from the United States,” he told the Wall Street Journal on Monday.
“They have to open up China to the United States. Otherwise, I don’t see a deal being made.”
China’s share of US Treasuries holdings has had the sharpest decline since January as continuing trade tensions with Washington drove the world’s largest economy to take steps to stabilize.
Last Month, The New York Times reported how Trump intends to withdraw from a 144-year-old postal treaty which has allowed the country to send ultra cheap packages.
The treaty has been undercutting American competitors and overwhelming the market with cheap consumer products.
Mr. Trump’s hard-line trade adviser, Peter Navarro, wrote in a Financial Times op-ed last month.“
These disparities have introduced a massive distortion in the eCommerce market.