Trade War: Find Alternative To China, Trump Orders U.S Companies

United States President, Donald Trump, on Friday, asked U.S based companies find an alternative to doing business with China.

Trump was reacting to China’s latest plan to impose retaliatory tariffs on $75 billion worth of goods imported into the country from the U.S.

“Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue,” Trump tweeted hours after China threatened additional 5 to 10 percent tariffs on U.S goods, including cars.

According to China’s Custom Tariff Commission, the new tariffs will be implemented in two phases on September 1 and December 15, 2019.

“I won’t let that happen! We don’t need China and, frankly, would be far better off without them,” said the U.S President.

“The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States,” said Trump.

Meanwhile, China’s Xinhua news agency had reported on Friday that the country’s planned additional tariffs on U.S goods were in response to earlier threats by the U.S to impose taxes on $300 billion worth of Chinese goods.

“The U.S. measures have led to the continuous escalation of China-U.S. economic and trade frictions, which have greatly harmed the interests of China, the U.S. and other countries, and have also seriously threatened the multilateral trading system and the principle of free trade,” Beijing said.