©wayfair

China said there are no winners in trade wars as it reacted to U.S. President Donald Trump’s new and rising import tariffs on softwood lumber, upholstered furniture, and kitchen cabinets and vanities. Guo Jiakun, spokesperson for the Chinese Foreign Ministry, told a regular press briefing on Tuesday that “there are no winners in tariff or trade wars, and protectionism leads nowhere,” according to a paraphrasing of his remarks by state-run Global Times. The tariffs are being introduced despite fruitful talks between trade delegations from the U.S. and China as Trump continues to aggressively pursue his economic policy of trying to rebuild American manufacturing by throttling foreign competitors. …”In order to make North Carolina, which has completely lost its furniture business to China, and other Countries, GREAT again, I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States,” Trump said a post on Truth Social.