China-US Trade Tensions: China responds to proposed tariffs on $100 bln worth of goods
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The tit-for-tat trade dispute between China and the US is showing no signs of slowing down. Beijing is strongly criticizing Washington's newly proposed tariffs, on 100-billion dollars worth of Chinese goods. CGTN's Grace Shao has the reaction.
On Thursday, the Trump administration said it had instructed the Office of the US Trade Representative to consider tariffs on 100 billion dollars worth of Chinese goods under section 301. This proposal followed a list of tariffs released on Tuesday, which included thirteen-hundred products worth around 50 billion US dollars.
These latest tariffs, specifically aimed at China, and following earlier ones on steel and aluminum imports, provoked a very heated response from Beijing on Friday.
GAO FENG, SPOKESPERSON CHINESE COMMERCE MINISTRY "We have resorted to bottom-line thinking. We are prepared for any escalated measures taken on the part of the US and have made specific counter-measures. Our way of doing things has always been this: we will never seek any confrontations, but if provoked and agitated, we will resolutely fight back. We are serious about this issue and we will act on what we say."
The list released by Washington on Tuesday included transportation products, communications satellites, industrial lasers and robots, as well as commercial and household electronics...
And in response to that, China retaliated with a list of its own, slapping 50 billion dollars worth of reciprocal tariffs on 106 American products. This included agricultural products such as soybeans, cars, aircraft, and chemical products...
Meanwhile, China has also filed an official complaint to the World Trade Organization following Washington's decision to impose tariffs on steel and aluminum imports.
Furthermore, the Chinese Ministry of Foreign Affairs reiterated China's willingness to fight to the end if a real trade war was to happen.
LU KANG, SPOKESPERSON CHINESE MINISTRY OF FOREIGN AFFAIRS "We think the U.S. is using unilateralism to fight multilateralism, and using protectionism to fight free trade. If multilateralism and free trade are threatened, globalization will be undermined. And the world's economic recovery will be threatened as well. This matters for China's well-being, and it also matters for the world's well-being. We must resolutely choose to fight when we face an issue of this magnitude."
GRACE SHAO BEIJING The back and forth between China and the US is a clear indication that neither are willing to compromise their own interests at the moment. Both the Chinese foreign and commerce ministries have taken a hard line on this potential trade war and say they will not tolerate any further provocation from the US. As of now, it seems China still hopes to mitigate the tension, but if pushed further, it says it is prepared to fight to the end no matter what. Grace Shao, CGTN, Beijing.