China hikes tariffs on U.S.

-Source-Chicago Tribune- China fired back Saturday in a spiraling trade dispute with President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans electric cars and whiskey. The government said it was responding in equal scale to Trumps tariff hike on Chinese goods in a conflict over Beijings trade surplus and technology policy that companies worry could quickly escalate and chill global economic growth. China doesnt want a trade war but has to fight back strongly said a Commerce Ministry statement. It said Beijing also was scrapping agreements to narrow its multibillion-dollar trade surplus with the United States by purchasing more American farm goods natural gas and other products. The United States and China have the worlds biggest trading relationship but official ties are increasingly strained over complaints Beijings industry development tactics violate its free-trade pledges and hurt American companies. Europe Japan and other trading partners raise similar complaints but Trump has been unusually direct about challenging Beijing and threatening to disrupt such a large volume of exports.