China FinMin Official: US is escalating trade tension

An official at China’s Finance Ministry is out on the wires now, via Reuters, speaking about the escalation in the US-China trade war tensions at China-Chicago cooperation council.

The official said that the US is escalating the trade tension.

Earlier today, the US Trade Representative Robert Lighthizer formally announced that the US will be seeking further tariffs on $200 billion of Chinese imported goods.