China trade war continues; Chinese Daily calls Trump's claims 'wishful thinking'

Trump Claims Tariffs Are 'Working Big Time,' But Can't Back Up His Claims

China's state media continued its aggressive rhetoric against U.S. President Donald Trump's administration, accusing Washington of being "double-faced" amid an ongoing trade dispute.

Despite the tariffs, China's exports are expected to have grown in July, according to a Reuters poll of economists.

China proposed retaliatory tariffs on $60 billion worth of USA goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, following the Trump administration's plan for a higher 25 percent tariff on $200 billion worth of Chinese imports.

While talking to Bloomberg TV President Trump's chief economic advisor Larry Kudlow said "Don't underestimate President Trump's determination to follow through" while talking about tariffs on Chinese goods.

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Beijing has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy.

The U.S.is using "carrot-and-stick diplomacy to bully China into unilateral trade concessions", but any move to "defeat China" will be futile, said the People's Daily.

The Chinese media continues to criticise US President Donald Trump's trade policies.

China's stock market was performing poorly before the administration's tariff attack, said the China Daily, and is due in part to Beijing's attempts to cut corporate debt.

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If China goes forward with the decision nearly 90% of the USA's exports to China will be subjected to the tariff.

"Governing a country is not like doing business", the paper said, adding that Mr Trump's actions imperilled the national credibility of the US.

In a separate commentary, in the People's Daily overseas edition, a researcher at the Commerce Ministry reiterated this stance, saying China was strong and resilient enough to weather the trade dispute.

Trump has threatened tariffs on over $500 billion in Chinese goods, covering virtually all US imports from the Asian giant, demanding that Beijing make fundamental changes to its policies on intellectual property protection, technology transfers and subsidies for high technology industries.

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The United States was "attempting to invent a pretext for increased sanctions against the DPRK". The White House and State Department did not immediately return requests for comment.

The China Daily wrote in an editorial on Tuesday that Donald Trump has "an ability to elasticise the truth". "Time will prove that the US eventually makes a fool of itself", the Global Times said.

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