Beijing has announced new measures against scores of American products in response to Washington's list of Chinese imports that could face tariffs. China's Finance and Commerce ministries spoke about the moves and CGTN's Wu Guoxiu was there.

Soybeans, beef, cars and aircraft, some of the items on China's retaliatory list, which it said it's issuing reluctantly, but with good reason.

ZHU GUANGYAO VICE MINISTER OF FINANCE "The US exported 32.854 million tons of soybeans to China in 2017, accounting for 34.39 percent of the entire Chinese import, which was so large, Chinese soybean farmers put forward their demands to the relevant association, and the subsidies from the US government have affected China's soybean farmers' interests. The Chinese government respects the requirements of the Chinese farmers and the policy demands from China's soybean association. So, in this respect, soybeans serve as a counter option at this time."

The minister said American soybean exports to China accounted for nearly two-thirds of the total amount it shipped overseas. But, he says, at present, this product's catalogue has not yet gone into effect. The action comes in response to Washington's planned tariffs on Chinese imports worth up to 50 billion US dollars.

WANG SHOUWEN VICE MINISTER OF COMMERCE "In the spirit of international law, and in accordance with the requirements of the No. 7 item from China's foreign trade law, we must adopt corresponding measures to deal with any countries and regions that take any actions regarding discriminatory prohibitions, restrictions or similar measures in terms of trade with China. As Vice Minister Zhu said, we have just released our list worth nearly 50 billion dollars as well. I have to say, we were compelled to take this action and our practice was restrained."

However, Wang said Beijing would wait until Washington made the first move. Meanwhile, the vice minister also said any alteration in the trade deficit between China and the US must require efforts on both sides, and not, as President Trump suggested, from China alone.

WU GUOXIU BEIJING "The ministers were using the term 'trade friction' rather than 'war' to throw a damper on the current situation. But, they say, if anyone wants a trade war, China will fight until the last minute. And if anyone wants to talk, the doors are always open. Wu Guoxiu, CGTN, Beijing."