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China Vows Retaliation After U.S. Spikes Tariffs 15%

China vows to retaliate after the U.S. hiked tariffs targeting billions of dollars’ worth of Chinese products to 25%, which took effect Friday.

The Chinese Commerce Ministry released a statement saying it would embark upon “necessary countermeasures” in response to the decision.

The White House has said despite the recent disagreements amid the trade talks, negotiations were set to resume Friday.

Certain reports suggest China was trying to renegotiate the deal as the talks neared completion.

President Trump has weighed in on the negotiations Friday via twitter saying the tariffs the Chinese are now paying are paid directly to the U.S. Treasury Department.

The president continued by saying he plans to enact an additional 25% tariff targeting $325 billion worth of Chinese products.

He said the American market will purchase agricultural products from American farmers and ship the necessities to countries in need.

President Trump went on to say tariffs will yield enormous wealth to the U.S. economy, though talks with China will continue in a “congenial” manner.

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