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China Threatens Retaliation Over Latest U.S. Tariffs

China's Council Tariff Committee threatened retaliation on Thursday over the latest round of U.S. tariffs targeting Chinese goods.

China threatens retaliatory measures if the U.S. imposes another round of tariffs targeting Chinese products on September 1.

China’s Council Tariff Committee released a statement on Thursday saying China “has no choice but to take necessary measures to retaliate,” although it remains unclear what that would entail.

The statement went on to suggest the move “seriously violated” the tariff ceasefire reached by President Trump and Chinese President Xi Jinping.

This comes after President Trump warned Beijing the U.S. would enact a 10% tariff on $300 billion worth of Chinese goods by September 1.

Since that announcement, some tariffs have been removed and others have been delayed.

The Council slammed the move anyway saying it violated an agreement reached between the countries during the G-20 Summit in Osaka.

President Donald J. Trump and President Xi Jinping meet children waving Chinese and U.S. flags at welcoming ceremonies outside the Great Hall of the People, Thursday, November 9, 2017, in Beijing, People’s Republic of China. (Official White House Photo by Shealah Craighead)

The president cited the delay as critical for retailers to get through Christmas without extreme price increases.

White House trade adviser Peter Navarro weighed in on the talks saying there are structural issues involving technology and currency manipulation which need to be straightened out before a deal can be reached.

Officials from both sides are expected to meet to continue trade talks in the next two weeks.

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