After Donald Trump fired the first shots in what may be an extended trade war, Chinese President Xi Jinping made clear he’s going to wait before unleashing his country’s formidable arsenal in response.
China’s plans for reciprocal tariffs of $3 billion on products from pork to wine represent a tiny fraction of its U.S. imports. Crucially, the Commerce Ministry said those were in response to Trump’s steel and aluminum tariffs, and said it has a plan to act further on the planned levies on $50 billion worth of Chinese imports that his administration announced Thursday.
