CHINA/TARIFFS/TRADE WAR/TRUMP AS PRESIDENT: “China issued a rebuke to the United States on Friday [9-28-18], decrying protectionism and unilateral trade moves that ‘bring damage to all’ in a wide-ranging challenge to President Donald Trump as tensions between the two countries continue to rise. Speaking to the United Nations General Assembly two days after Trump accused Beijing of election interference and a week after his administration announced new tariffs that mean roughly half the products China sells to the US will now be penalized, Foreign Minister Wang Yi declared that China ‘will not be blackmailed or yield to pressure’…Wang did not mention the US during his remarks on trade, but said Beijing wants “a proper settlement based on rules and consensus through dialogue and consultation on an equal footing.” He framed China’s approach as a defense of the broader free trade system against unilateral and destructive steps by others…The US imposed a 10% tariff on $200 billion worth of Chinese goods, starting on Monday [10-1-18]. The levy will increase to 25% at the end of the year. The additional tariffs are on top of penalties enacted earlier this year on $50 billion worth of Chinese goods. Taken together, it means roughly half of the products that China sells to the United States each year will be hit by American tariffs. Trump has also threatened to launch a third round of tariffs on $267 billion in goods on Beijing.”
–Nicole Gaouette and Donna Borak, “China challenges Trump, says it will not be ‘blackmailed’ on trade,” CNN Politics, CNN.com, September 28, 2018 3:45 pm