The Chinese vice-minister of commerce said Beijing is ready for a trade war with the United States, albeit reluctantly, if Washington is looking for a fight.
“China does not want a trade war because no one will emerge as a winner,” said Wang Shouwen. “But if someone insists on fighting a trade war, we will be there.”
The official stressed that the Chinese authorities are still ready for dialogue and negotiations over balancing trade turnover between the world's two biggest economies.
The statement followed China’s pledge to impose tariffs on nearly $50 billion in imports from the US. Beijing will reportedly introduce 25 percent levies on 106 American goods, including soybeans, cars, aircraft, beef, cigars and whiskey.
The step came in retaliation to the 25 percent tariff on over 1,300 Chinese products introduced by the Trump administration earlier this week. The US list covers machinery, electronics, uranium, flamethrowers and even dental devices.
The US measures mainly target goods that allegedly benefitted from China’s theft of US intellectual property. In response, Beijing reportedly hit a category of products manufactured in those US states that supported President Donald Trump during his election campaign.
At the same time, the Chinese Ministry of Commerce has reportedly filed complaint with the World Trade Organization over the tariffs introduced by the US.
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