On Friday, hike it tariffs regarding Chinese imports by the United States and Beijing announced that it was a hit back against American goods in a technology dispute between the world’s two biggest economies that President Donald Trump says he is prepared to escalate.
it is the first step that is taken by the United States in the accelerating series of tariffs, Washington imposed 25 percent tariffs on $34 billion worth of Chinese imports.
Chinese foreign ministry spokesman, Lu Kang. Hu respond it in a Retaliatory measures that “took effect immediately,” of US tariffs and no details have been given by him , However, as per one of the source, last month, a plan that was carrying out by customs agency has been announced for imposing 25 percent tariffs on a $34 billion list of American goods including soybeans, pork and electric cars for higher duties.

Companies trouble to the escalating dispute could chill global economic growth, but financial markets took Friday’s developments instep.

Japan’s main stock market index, the Nikkei 225, gained 1.1 percent while the Shanghai Composite Index added 0.5 percent. Hong Kong’s Hang Seng hiked 0.8 percent. Shares also obtained in early European trading.

According to a report, Trump told that it would take effect in two weeks with regards to higher tariffs on an additional $16 billion in Chinese goods.

After that, the President of the United States said that ”the antagonism could escalate as the U.S. is ready to target an additional $200 billion in Chinese imports and then $300 billion more, if Beijing does not yield to U.S. demands and continues to retaliate that would bring the total of targeted Chinese goods to potentially $550 billion -more than the $506 billion in goods that China shipped to the United States last year”.
The Trump administration asserted that China has deployed predacious tactics in a push to overtake U.S. technological command.
These tactics include cyber-theft and requiring American companies to hand over technology in exchange for getting opportunities in China’s market.

“The United States has blatantly violated WTO rules,” said Hu, the foreign ministry spokesman. “Any unilateral pressure will be futile.”

“This is a potential concern for the outlook of corporate investment and consumption around the world,” said Hui.

The official China Daily newspaper accused the Trump administration of “behaving like a gang of hoodlums” who would harm the global economy unless other countries end them.
According to a newspaper of China “There should be no doubting Beijing’s resolve,”