China does not intend to concede in response to the threat of US President Donald Trump to introduce additional 50 percent duties. This was stated by the official representative of the PRC of China Lin Jian at a press conference in Beijing.
According to Lin Jian, the USA, introducing arbitrary tariffs, violate the legal rights and interests of other countries, as well as the rules of the World Trade Organization (WTO).
“American tariffs are a classic example of one -sidedness and economic pressure. China firmly intends to protect its legitimate interests and accepts all the necessary measures,” he stressed.
According to the Chinese representative, the trade wars have no winners.
“The Chinese people are not striving for conflict, but they are not afraid of it. Pressure, threats and blackmail are not those methods by which you can come to an agreement with China. If the United States continues to insist on a trading war and new duties, China will go to the end,” said the representative of the Foreign Ministry.
On the same day, the Ministry of Commerce of the PRC made a statement in which Trump’s threat to introduce additional 50 percent duties and promised to take response measures if they were implemented.
Beijing’s answer to new US tariffs
China’s reaction followed after US President Donald Trump announced the introduction of additional 34 percent duties as part of the policy of “mutual tariffs”.
Washington announced an increase in Chinese goods by 34 percent, including a basic 10 percent rate and an additional 24 percent allowance. Thus, the total minimum rate for goods from China reached 54%.
Beijing became the first country to make a tough response to the actions of the United States.
China announced the introduction of mirror duties of 34 percent and filed a lawsuit against the United States to the World Trade Organization.
The Chinese authorities also limited the export of rare -earth metals and announced sanctions against a number of American companies.
In turn, Trump threatened that if China does not cancel its return duties until April 8, the United States will introduce additional 50 percent tariffs and cancel the planned bilateral negotiations.