China has reiterated its intention to “fight to the last” against tariffs imposed by US President Donald Trump.
In its wide-ranging policy statement, Beijing noted that trade between the two countries had already reached balance since the 104% tax on exports to the United States came into effect.
The Chinese government has not disclosed whether it plans to negotiate with the White House.
“If the United States continues to insist on strengthening its economic and trade restrictions, China has the will and significant resources to take the necessary retaliatory measures and fight to the end,” the Commerce Department said in a statement.
Last week, China announced it would impose a 34 percent tariff on all U.S. imports, as well as export controls on rare earth metals and other measures in retaliation for Trump's “Liberation Day” tariffs.
In response, the US leader imposed an additional 50% tariff on goods from China, declaring that negotiations with Beijing were terminated.
At the moment, China does not seem interested in negotiations.
Foreign Ministry spokesman Lin Jian said: “If the US is truly committed to resolving issues through dialogue and negotiations, it should take a position of equality, respect and mutual benefit.”
A Chinese government document said the United States had failed to fulfill its commitments under the Phase 1 trade deal negotiated during Trump's first term.
Sourse: breakingnews.ie
