Trump Warns China Against ‘Substantial’ Retaliation in Trade War

President Donald Trump warned China against “substantial” retaliation for new U.S. tariffs after his escalating trade war with Beijing rocked global financial markets.

“There can be some retaliation but it can’t be very substantial,” Trump told reporters on Monday during a meeting with Hungarian Prime Minister Viktor Orban.

China on Monday announced plans to raise duties on some American imports starting June 1, defying Trump’s warning to resist escalating the trade war. Beijing’s move sent stocks tumbling and clouded the outlook for the global economy.

Trump predicted China would attempt to target U.S. farmers, a mainstay of the president’s political support. Farmers “will make the same kind of money” even if they face retaliation, he said.

The two nations reached a stalemate Friday in trade talks that the White House had expected to conclude this month with a deal. Read more

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