China-US Trade Frictions: Ministry of Commerce: China will not fire the first shot
Updated 07:57, 09-Jul-2018
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03:02
As the United States prepares to impose tariffs on 34 billion dollars worth of Chinese goods, China says it will not fire the first shot in a trade war. However, the Ministry of Commerce says if the US forges ahead with the tariffs, China will be forced to retaliate. Our reporter Wang Hui attended a press briefing Thursday and has the details.
According to America's plan, it will impose an additional 25% of tariffs on Chinese exports worth 34 billion dollars on July 6th. In response, Beijing announced that it will impose tariffs of the same rate on the same value of American goods on July 6th as well. The date is approaching, so I raised a relevant question at the press conference on Thursday.
WANG HUI BEIJING "As we know, according to the plan, the US will impose tariffs on 34 billion dollars of Chinese goods. If America implements the plan, will China impose the tariffs on the list of American goods announced earlier? As soon as the two sides take these actions, does this indicate that a trade war between the two countries officially starts? "
GAO FENG, SPOKESPERSON CHINESE MINISTRY OF COMMERCE "The US has triggered this trade war, we are not willing to fight, but in order to protect the interests of the country and the people, we have to fight when it's necessary. China definitely will not open the first shot, but if the US implements the tariff measures, China will be forced to retaliate."
Among Washington's list of goods worth 34 billion dollars, 20 billion, which is about 59%, is produced by foreign invested companies. And some of these foreign invested firms are actually American meaning the US' trade action will ultimately hurt itself.
GAO FENG, SPOKESMAN CHINESE MINISTRY OF COMMERCE "If the US starts to impose those tariffs, it actually imposes tariffs on Chinese companies and companies from all over the world, including American ones. What the American measures hit, in nature are the global industrial chain and value chain. Simply speaking, the US is opening fire to the whole world and itself."
Beijing also urges countries to take action to oppose trade protectionism and unilateralism, to protect the common interests of the people in the world.
WANG HUI BEIJING "At today's press conference, officials were asked if American firms in China will be the target of Beijing's retaliation against Washington. The ministry said the Chinese market has always been stable, rational, and run according to the law. Officials said China will protect the legitimate rights of foreign companies in China. And Beijing will continue to evaluate the impact of the trade war on those companies, and try to mitigate the negative effects. Wang Hui, CGTN, Beijing."