Chinese media say U.S. has 'paranoid delusions'

Chinese media say U.S. has 'paranoid delusions'

Chinese media say U.S. has 'paranoid delusions'

The tariffs come weeks after the Trump administration implemented a 25 per cent tariff on steel and 10 per cent tariff on aluminium imports in March.

"We did not want to be in this position", EU Trade Commissioner Cecilia Malmstrom said in a statement. "The U.S.is abusing the tariff methods and starting trade wars all around the world".

Cecilia Malmstrom, the EU's trade commissioner, acknowledged that the European Union had targeted some iconic American imports for tariffs, like Harley-Davidson motorcycles and bourbon, to "make noise" and put pressure on USA leaders.

Canada said its tariffs of up to 25% on almost $13 billion of American products will take effect on July 1.

Speaking in Ireland, he said: "The trade that we believe in is built on rules, trust and reliable partnership". Oxford Economics said the consequences could be much greater if Trump imposed tariffs on cars, which leaders from both American and European auto manufacturers have said would lead to net job losses in the US. "The United States decision to impose targets on Europe goes against that, in fact it goes against all logic and history", European Commission President Jean-Claude Juncker said on Thursday. India and Turkey have already targeted USA products, ranging from rice to autos to sunscreen.

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On March 1, President Donald Trump announced that the United States would be imposing a 25 percent global tariff on all steel imports to the USA and a 10 percent global tariff on all aluminum imports.

However, the European Union has introduced a 50% duty on goods such as footwear, some types of clothing and washing machines.

As painful as the brewing trade war could prove, many have seen it coming.

The White House last week announced plans to slap 25 percent tariffs on 1,100 Chinese goods, worth $50 billion in imports.

According to the China Daily, the United States is trying to preserve the global economic system, which is working to America's benefit. "Excluding agricultural products (generally more highly protected), the USA tariffs are similar to those from Canada and the European Union, and higher than in Japan". The United States' trade deficit with China past year was $376 billion, by comparison.

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