Beijing (Sputnik) – a new proposal to slap tariffs on some Chinese goods is another of Washington’s “step in the wrong direction,” said China’s Ambassador to the US Cui Tiankai said Wednesday.
“Today’s announcement is another step in the wrong direction. We will certainly respond accordingly. We will resort to the WTO [world trade organization] dispute settlement mechanism, and we will be in accordance with Chinese law to take steps to fight back. Maybe with the same intensity, the same scale,” cui said in an interview with CNBC.
The diplomat added that in the modern world, all economies are interrelated and if any harmful action, such measures will definitely have a negative impact on the economies of other countries.
“I think it clearly has a negative impact on the Chinese economy, but it will also have a negative impact on the US economy. Such protectionism is not to protect anybody. He will not protect American workers and American farmers. He will not protect American business and American consumers. In fact, it will hurt everyone including American economy,” the Ambassador said, speaking about the recently announced list of rates.
On Tuesday, the office of the U.S. trade representative, said in a press release that the US was set to impose additional duties on about 1,300 Chinese goods, including aerospace industry of China industry and information technology.
A number of other Chinese officials have criticized the U.S. decision. Foreign Ministry spokesman of China, Lu Kang said that Beijing will resort to the dispute settlement mechanism of the WTO, while Zhang xiangchen, permanent representative of China to the WTO, calls on other States to cooperate with Beijing in the fight against the protectionist policies of Washington.
List on Tuesday, is the first step in the ongoing trade tensions between Washington and Beijing during the stay of the US President Donald trump. March 22, trump signed a Memorandum on introduction of new tariffs on imports from China, trading actions, which the President said could be about $ 60 billion. The white house said that the tariffs are designed to compensate for the advantages that Beijing gained through their unfair trade practices. In turn, the Ministry of Commerce of China introduced new import tariffs on American goods 128.
Sourse: sputniknews.com
