China declared Friday the “biggest trade war in economic history” is now under way after Beijing implemented retaliatory tariffs on some imports in response to U.S. duties taking effect.
Wei Jianguo, a former deputy Chinese commerce minister, said the conflict “will last for a long time,” the South China Morning Post reported.
New U.S. tariffs of 25 percent went into effect at 12:01 am. Friday, Washington time, on $34 billion of annual imports from China.
A spokesman at China’s Ministry of Commerce said Friday that Beijing was forced to respond, calling the U.S. tariffs “typical trade bullying,” according to