Chinese media warns of 'tax war' after Trump pledge to slash rates

People's Daily says US president could 'endanger the global economy' and damage 'export-oriented countries'

Chinese leaders are worried about Donald Trump engaging in a "tax war" with Beijing, potentially fuelling tensions between the two countries already strained by problems such as North Korea, trade and the South China Sea.

A commentary in the People's Daily, the official mouthpiece of the Communist party, attacked Trump's plan to reduce taxes on companies and simplify swaths of US tax code, highlighting Beijing's fears the move could harm businesses back home.