"Instead of retaliating, China should address the longstanding concerns about its unfair trading practices, many of which are laid out in USTRs 301 report", Sanders told Breitbart News in a response to news of the $60 billion in Chinese retaliatory tariffs on us goods.
China's finance ministry also said it would place tariffs of 5 percent to 25 percent on 5,207 goods imported from the United States worth $60 billion if Washington follows through on a proposal to put a 25 percent fine on $200 billion worth of Chinese imports.
The Twitter posts came one day after China vowed to impose steep tariffs on $60 billion in US exports in retaliation to large tariffs the Trump is considering on $200 billion in Chinese exports. But in the meantime, foreign nations are imposing tariffs on some US goods such as soybeans and whiskey.
Representatives for the White House and the US Commerce Department did not immediately reply to requests for comment on China's retaliatory move. The Chinese Ministry of Commerce said Friday that if USA continues to "blackmail" China, the conflict will only intensify. It's already clear that Chinese companies have dramatically scaled back their purchases of USA energy products. LNG's inclusion marks a deployment by Beijing of one of its last major weapons from its energy and commodities arsenal in its fight with Washington.
The market is not large by value compared with the around $12 billion per year of United States crude that arrives in the country, but those levels could shoot up as Beijing forges ahead with its plan to switch millions of households to the fuel away from coal as part of its battle against smog.
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"Because of Tariffs we will be able to start paying down large amounts of the $21 Trillion in debt that has been accumulated, much by the Obama Administration, while at the same time reducing taxes for our people".
Speaking on the sidelines of a security forum in Singapore, Foreign Minister Wang Yi said China's threat of retaliatory tariffs was "fully justified and necessary". "Any talks in the future, should they happen, should be conducted on an equal and faithful basis".
China's imports of U.S. LNG were about 1.9 million tonnes in the first seven months of year, according to vessel-tracking data, representing just 6.9 percent of total purchases of 27.6 million tonnes. The rise in per centage terms was the biggest since November 2016. The order was meant to stem what he described as "economic aggression" by Beijing and an unbalanced trade deficit.
U.S. President Donald Trump takes part in a welcoming ceremony with China's President Xi Jinping on November 9, 2017, in Beijing.
Most major USA crops were already hit by previously announced Chinese duties, so the fresh duties announced Friday on about $60 billion worth of American goods is leaving the farm largely unscathed.
Most economists predict the uptick in the trade gap will increase over the rest of the year, Marketwatch reports.