It's On: China Retaliates!

It's a trade war.

China has imposed tariffs on a range of U.S. goods in retaliation against the Trump administration’s tariffs on imports of Chinese steel and aluminum.

The Chinese Finance Ministry said in a statement Sunday that tariffs on specified imports of American goods would take effect today.

Penalties range from 25% on American pork and recycled aluminum and other goods to 15% on fruit and 120 types of commodities, including fruits, nuts, cherries, almonds, wine and steel pipes, the ministry said.

The ministry suggested that Beijing’s response is designed to be limited and doesn’t seek to escalate tensions.

Of course, if China wanted to act in the best interests of its people, it should not have responded at all to Trump's mercantilist trade policies.

Now, citizens from both countries will experience a decline in their living standards.

An open border policy for trade is always the best policy.

-Robert Wenzel