10:01, 13-Mar-2018
China's Political Season: China warns trade war with US will harm global economy
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The US's recent announcement of new tariffs on steel and aluminium is raising fears of a possible trade war. China's Minister of Commerce called that a disaster for the global economy.
ZHONG SHAN CHINESE MINISTER OF COMMERCE "I'd like to point out that there will be no winners from a trade war. It would only bring disaster to China and the US and the rest of the world. China does not want a trade war and will not be the one to start such a war. But we are able to deal with any challenges. We will firmly safeguard the interests of the country and the people."
The minister added he thinks America's estimate of its trade deficit with China has been exaggerated by around 20-percent. He said the trade imbalance is structural that China exports more commodities to the US, while importing more services.