China looks unlikely to give in after US tariff hike

In this Sept. 16, 2018, photo, American flags are displayed together with Chinese flags on top of a trishaw in Beijing. The American Chamber of Commerce in China says Beijing will "dig its heels in" after U.S. tariff hikes and appealed for a negotiated end to their trade battle. The chamber on Tuesday, Sept. 18 warned a "downward spiral" appears certain after President Donald Trump approved a tariff hike on $200 billion of Chinese imports in a dispute over Beijing's technology policy. (AP Photo/Andy Wong)

China appears unlikely to back down after Trump approves new tariffs on $200 billion of Chinese goods

BEIJING — Exporters scrambled to replace lost orders after U.S. President Donald Trump raised tariffs in July on $50 billion of Chinese imports. Waves of job losses loom over factory towns. But Chinese leaders expressed confidence in their $12 trillion-a-year economy and refused to budge on tactics they see as a path to prosperity and global influence.

Economists, political analysts and business groups say China's leaders appear no more likely to back down after Trump approved penalties Monday on $200 billion more of Chinese goods.

The chairman of the American Chamber of Commerce in China, William Zarit, said Tuesday in a statement, "Contrary to views in Washington, China can — and will — dig its heels in and we are not optimistic about the prospect for a resolution in the short term."

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