China promises retaliation if US imposes more tariffs
The ABC reported that China on Monday promised retaliation if US President Donald Trump escalates their tariff battle, raising the risk Beijing might target operations of American companies as it runs out of imports for penalties. The threat came after Trump said Friday he was considering extending penalties to an additional $267 billion of Chinese products in their battle over Beijing's technology policy. That would be on top of $50 billion of goods already hit by 25% duties and another $200 billion on which Washington is poised to raise tariffs. Trump’s ultimate goal is to promote US manufacturing, though some analysts predict this will only result in more expensive goods for consumers. While the price increases may happen, if the US didn’t take action, the Made in China 2025 strategic plan would challenge US technological leadership, with severe strategic and economic consequences.