Trump Says Trade War Lost ‘years Ago' After China Threatens Tariffs of Its Own

BEIJING -- President Donald Trump says the U.S. lost a trade war with China "years ago."In a tweet Wednesday after China announced a list of U.S. products that might be subject to a 25 percent tariff, Trump said: "We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S." China announced tariffs worth $50 billion on a series of U.S. products including soybeans, whiskey and cars.Chinese officials said they were obliged to act after the U.S. announced plans for retaliatory tariffs in an escalating dispute over China's technology program and other trade issues.  Continue reading...