China accuses US of 'economic hegemony' as tariffs take effect

New U.S. tariffs on $200 billion worth of Chinese goods took effect this morning. China immediately issued $60 billion worth of retaliatory tariffs.

China issued a 36,000-word white paper accusing the United States of “economic hegemony” that threatens the global trading system.

“[The US] has brazenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs, and attempting to impose its own interests on China through extreme pressure,” the white paper reads.

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