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China: Tariffs damaged trade system

A Chinese trade official says President Trump’s steel and aluminum tariffs have severely damaged the multilateral trade system.  In a news release from China’s Commerce Ministry, a spokesperson says China will work through the World Trade Organization to maintain stability and authority of multilateral trade.

The news release says, as two of the world’s largest economies, China and the U.S. should focus on cooperation to promote trade relations between the two countries.  U.S. soybeans and pork are among the 128 products that China says it will target in retaliation.  The first tariffs imposed by China – about $1 billion worth – are on fruit, wine and ethanol, among other products.  Pork, recycled aluminum, and other products are among the second flight of tariffs, if China moves forward.

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