Reminder: China doesn’t pay tariffs to the USA.

Reminder: China doesn’t pay tariffs to the USA.

By william 0 Comment May 8, 2019

 

BEIJING — China has warned of retaliation if President Trump goes through with his threat to raise tariffs on Chinese goods on Friday, setting up a potential escalation in a protracted trade war that was thought to be coming to an end.

The warning late Wednesday — issued as China’s vice premier and chief trade negotiator headed to Washington for trade talks — signaled that Beijing was prepared to raise tariffs on American products in response to Trump’s threats.

“An escalation in trade frictions is not in line with the American or Chinese interests or the interests of the world, and would thus be much to China’s regret,” a spokesman for the Commerce Ministry said in a statement on its website. “But if the U.S. goes ahead with its tariff measures against China, China will have to resort to necessary countermeasures.”

Reminder: China doesn’t pay tariffs to the USA. American consumers of Chinese goods pay the tariffs.