China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.
Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente.
On Monday, President Donald Trump began notifying trade partners of sharply higher US tariffs from August 1, after he delayed all but 10% of his April duties on most countries to give them time to strike deals with the world’s largest economy.
President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, on June 29, 2019. REUTERS
China, initially