Follow
WhatsApp

World s biggest trade battle since World War II, China is more than ready for it

World s biggest trade battle since World War II, China is more than ready for it

BEIJING – China’s government vowed Friday to “counterattack with greatstrength” if President Donald Trump goes ahead with plans to raise UStariffs on an additional $100 billion worth of Chinese goods and saidnegotiations were impossible under current conditions.

Trump’s surprise move Thursday to instruct the US trade representative toconsider the additional tariffs came a day after Beijing announced plans totax $50 billion in American products, including soybeans and smallaircraft, in response to a U.S. move this week to slap tariffs on $50billion in Chinese imports.

In Beijing, a Commerce Ministry spokesman said China doesn’t want a tradewar — but isn’t afraid to fight one.

“If the U.S. side announces the list of products for $100 billion intariffs, the Chinese side has fully prepared and will without hesitationcounterattack with great strength,” spokesman Gao Feng said.

He gave no details of what measures Beijing might take.

Trump’s proposal intensified what was already shaping up to be the biggesttrade battle since World War II. Global financial markets had fallensharply as the world’s two biggest economies squared off over Beijing’saggressive trade tactics. They calmed down Wednesday and Thursday on hopesthe US and China would find a diplomatic solution but slid Friday afterBeijing said it would fight the Trump administration’s latest threats.