China strongly opposes the U.S. plan to impose additional 10-percent tariffs on 300 billion U.S. dollars worth of Chinese imports and will have to take necessary countermeasures to defend its interests, both Chinese ministries of commerce and foreign affairs said on Friday.
China will not accept extreme pressure in any form and will take the necessary countermeasures if the U.S. imposes additional tariffs on Chinese imports, Foreign Ministry spokesperson Hua Chunying said at the regular briefing.
China is extremely displeased and firmly opposes the U.S. side’s intention to impose an additional 10-percent tariff on 300 billion U.S. dollars’ worth of Chinese imports and hopes the U.S. can get back on the right track, noted Hua.
Responding to the U.S. new tariff decision, the Chinese Ministry of Commerce (MOFCOM) said this is a serious violation of the consensus reached between the heads of state of the two countries in Osaka and is not conducive to solving the problem.
China always believes that there is no winner in a trade war, MOFCOM claimed, noting that China doesn’t want a trade war, but is not afraid of it.
MOFCOM declared that China will have to take the necessary countermeasures to safeguard the core interests of the country and the basic interests of its people, and all the consequences shall be endured by the U.S. side.
The Ministry of Commerce also stated that the U.S. escalating the trade frictions is not in line with the interests of the Chinese and American peoples as well as the interests of the world, noting that this kind of action will also impose a recessionary impact on the global economy.
China hopes the U.S. could rectify its mistake in time, solving the problem between the two countries based on equality and mutual respect, the MOFCOM said.
Both ministries of China made the remark after U.S. President Donald Trump on Thursday said he would impose an additional 10-percent tariff on 300 billion dollars’ worth of Chinese imports starting September 1.
The U.S. intention came the day after both sides met in Shanghai for the 12th round of economic and trade consultations on July 30 and 31. After those meetings, China and the U.S. said that both parties conducted candid, efficient and constructive exchanges on major issues like China’s increasing purchase of U.S. agricultural products and the U.S. creating favorable conditions.