(NBCNC) – It was tough talk from China Friday morning, with the country blaming the U.S. for starting what it calls a “conflict” but then using the word “war”.
“We don’t want to fight, but we’re not afraid to fight a trade war,” a spokesman said in Beijing, “And we will pay any price”. This is now day four of these tit-for-tat threats.
President Trump outlined $50 billion of possible tariffs on Chinese goods Tuesday.
China responded Wednesday with its list of $50 billion in U.S. products.
Thursday the president doubled down, suggesting another $100 billion.
But everyone’s asking: who is going to back down first here?
These are the world’s two biggest economies. A real trade war could do immense damage globally.
Both sides are leaving room for negotiation, and all eyes, later on Friday will be on Wall Street to see if the markets, which have been spooked by this, react to China’s threats to pay any price to win a trade war.
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