Tariffs and counter tariffs, the Chinese government warns there'll be "fierce counter strike" if US President Donald Trump goes ahead with $100 billion tariffs on Chinese products in looming trade war between world's two biggest economies.

Wednesday, President announced additional taxes on 1,300 Chinese products.

The Chinese government published a list of about 106 US products threatened with a 25% tariff, including cars, aircraft, beef whiskey, tobacco, soya beans and orange juice...





Trump tweeted that the United States is "not in a trade war" with China, slamming China's "unfair retaliation" against the US tariffs.

China's Commerce Ministry spokesman, Gao Feng, labeled Trump's actions "extremely mistaken" and unjustified. He also talked down possibilities of any negotiation between China and US in the current circumstances.

He said at a news briefing in Beijing:

"The result of this behaviour is to smash your own foot with a stone."

"If the United States announces an additional $100 billion list of tariffs, China has already fully prepared, and will not hesitate to immediately make, a fierce counter strike".

While on a U.S. radio show, Trump defended his proposed tariffs, expressing the decision might bring "a little pain" but the United States of America will be better in the long run.





Trump said in an interview with New York station 77 WABC's "Bernie & Sid" show:

"I'm not saying there won't be a little pain, but the market has gone up 40 percent, 42 percent so we might lose a little bit of it."

"So we may take a hit and you know what, ultimately we're going to be much stronger for it."

Analysts have warned of damaging consequences if there were to be a full-blown trade war.





National Retail Federation President and CEO, Matthew Shay, said:

"This is what a trade war looks like, and what we have warned against from the start."