China says US tariffs are “groundless”, act of bullying

• US imposition of 20% tariffs on the basis of fentanyl is “groundless”
• It is a typical act of protectionism, unilateralism and bullying
• Urges US to correct wrong practices and to handle the problem objectively
• Calls on US to not blindly “shift the blame”

They have to play the part in voicing their dissatisfaction but so far, Trump’s tariffs towards China aren’t as harsh as feared. Ahead of his inauguration, he was touting 60% tariffs. So, this is not as bad and China’s handling of the yuan currency since January also reflects their relief towards the situation.

This article was written by Justin Low at www.forexlive.com.