China will take countermeasures if trade war further escalates
China will never accept high pressure and intimidation from other countries, a Chinese official said on Saturday.
If the U.S. insists on escalating trade frictions, China will have to take countermeasures, said Wang Hejun, head of the Trade Remedy and Investigation Bureau of China's Ministry of Commerce, in an interview with CCTV.
"Despite of U.S. unilateralism and pressure, China will never compromise on the principal issues," Wang said.
In response to the U.S.' announcement to place an additional 10 percent tariff on the remaining 300 billion dollars' worth of Chinese imports starting on September 1, and labeling China as currency manipulator, Wang said that China firmly opposed to unilateralism, bullying, and protectionist measures taken by the U.S. which have undermined the atmosphere of Sino-U.S. trade consultations and are not constructive to resolve the trade dispute.
He continued that China always believes that the trade war cannot solve problems, and the U.S. approach in escalating trade friction is not in the interests of China, the U.S. or the world.
Wang cautioned that on the issue of China's core interests, the U.S. side must be cautious and take constructive actions to create favorable conditions for China-U.S. trade relations to return to normal.
He said that the two countries should act on the consensus reached by the two heads of state in Osaka, face their differences and always adhere to the principle of mutual respect, and mutual benefit.