PTI, Beijing: China will take “comprehensive counter measures” and fight “at any cost” US President Donald Trump’s directive to authorities to consider tariffs on US$ 100-billion worth of Chinese products, a top official said Friday.
The US, the world’s largest economy, has a trade deficit of almost US$ 500 billion with China, the world’s second largest economy.
The statement by China came a day after Trump ordered the US Trade Representative (USTR) to consider imposing tariffs on an additional US$ 100 billion in Chinese imports.
China will hit back with comprehensive counter measures if US continues its unilateral, protectionist practices, a spokesperson with the Ministry of Commerce said.
“On Sino-US trade, China has made its position very clear. We don’t want a trade war, but we are not afraid of such a war,” the spokesperson was quoted as saying by state-run Xinhua news agency. “Concerning the US statement, we will not only listen to the words but also watch the deeds,” the spokesperson said.
If the US continues its protectionism regardless of opposition from China and the international community, “China will fight to the end at any cost to protect the interests of the country and the people. The conflict was initiated by the United States as provocation,” the official said.
China will continue reforms and opening up, safeguard multilateral trade, and promote trade and investment liberalisation, the spokesperson said. Chinese Foreign Ministry spokesman Lu Kang also made similar pledge when asked to comment on Trump’s direction.
“We have heard what the US has said publicly about imposing tariffs, and we will also monitor what moves it will take. If the US disregards the objections of China and the international community and persists in unilateralism and trade protectionism, the Chinese side will follow through to the end and fight back resolutely,” Lu said.
“China will take new comprehensive counter measures to resolutely safeguard the interests of our nation and our people at whatever cost,” he said in a statement posted on the Foreign Ministry website.
By provoking a trade conflict with China, the US side in fact mounted a challenge to the world multilateralism and free trade regime with its unilateralism and protectionism, Lu said.
Wei Jianguo, former vice-minister of the commerce ministry, said that China may cut down service trade with the US in view of the current trade conflict.
“China needs to have some counter measures ready if the trade skirmish drags on,” he told the Hong Kong-based South China Morning Post.
The trade spate which is deteriorating into a trade war between the top two economies of the world began with Trump imposing tariffs on steel and aluminium imports into the US.
China retaliated by imposing additional tariffs worth about US$ three billion on 128 US products.
Trump, while demanding China to reduce the US$ 375 billion by US$ 100 billion, retaliated with tariffs on US$ 50 billion in Chinese products. In retaliation, China announced plans to impose new tariffs on 106 American products.
China said the date of implementation of the new tariff regime will depend on when the US government imposes the tariffs on Chinese products. Source: http://www.navhindtimes.in/
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