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BEIJING – China’s authorities warned Wednesday it should retaliate if Washington imposes new commerce penalties, following a report the Trump administration will suggest growing the tariff charge on an extra $200 billion of Chinese imports.
A overseas ministry spokesman, Geng Shuang, mentioned Beijing was prepared for “dialogue and consultation” to defuse the escalating dispute.
READ MORE: Trump administration plans to hike tariffs on Chinese merchandise from 10 to 25 per cent
“If the United States takes further measures that escalate the situation, China will definitely fight back,” mentioned Geng. He gave no particulars of attainable measures however mentioned, “we are determined to safeguard our legitimate and lawful rights and interests.”
Washington imposed extra 25 per cent tariffs on $34 billion of Chinese items July 6 in response to complaints Beijing steals or pressures firms at hand over expertise. Beijing responded by imposing the identical penalties on the identical quantity of U.S. imports.
Bloomberg News reported, citing three unidentified sources, the Trump administration would suggest imposing 25 per cent tariffs on a $200 billion record of Chinese items focused in a brand new spherical of penalties, up from the deliberate 10 per cent.
READ MORE: Donald Trump’s tariffs prone to damage U.S. financial system moderately than profit American employees, firms
Geng gave no indication whether or not the 2 sides had been making ready to renew negotiations.
“I need to stress that dialogues must be conducted on the basis of mutual respect and equality,” he mentioned. “Unilateral threats and pressure will only be counterproductive.”
The Ministry of Commerce didn’t reply to questions by cellphone and fax concerning the standing of attainable negotiations.
Note: « Previously Published on: 2018-08-01 06:38:44, as ‘China warns of retaliation if U.S. imposes extra commerce penalties on imports – National’ on GLOBALNEWS CANADA. Here is a supply hyperlink for the Article’s Image(s) and Content ».