Home Economy Trade war: China calls US bluff, vows retaliation over planned higher tariffs

Trade war: China calls US bluff, vows retaliation over planned higher tariffs

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“China does not want to fight a trade war started by the US, but it will take necessary measures to firmly protect its legitimate interests,” Chinese Foreign Ministry spokesperson Lu Kang said at Thursday’s news briefing.
He also noted that a trade war will impact the global economy as people from all countries will get harmed, including US industries and people. He said China did not provoke a trade war, and the US is very clear about China’s position on trade issues.
Washington has said it would implement tariffs on 34 billion US dollars’ worth of Chinese imports on July 6, and Beijing has vowed to take comprehensive countermeasures.
Meanwhile, Commerce Ministry spokesman Gao Feng warned that the proposed US tariffs would hit international supply chains, including foreign companies in the world’s second-largest economy.
“China will not fire the first shot, but if the US takes these actions, we will take all necessary measures to retaliate. For other countries, they understand and support China’s stance. China will work with other countries to oppose the unilateralism and protectionism, in order to protect the interests of people around the world.”
China’s tariffs on the part of goods imported from the US will be effective immediately after the US implements its tariff measures on China, China’s General Administration of Customs said on Thursday.
Source: cgtn.com

Photo: Yahoo.com

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