Wednesday,  Sep 26, 2018,08:06 (GMT+7) 0 0
China vows to retaliate in response to latest U.S. tariff measures
The Saigon Times Daily
Friday,  Jun 15, 2018,21:32 (GMT+7)

China vows to retaliate in response to latest U.S. tariff measures

The Saigon Times Daily

Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China April 24, 2018 – PHOTO: REUTERS

BEIJING (REUTERS) - China plans to impose tariff measures of similar size and intensity in its bid to fight back against the United States, as the world's two largest economies engage in a bitter trade dispute.

The comments by the country's commerce ministry came within minutes of U.S. President Donald Trump's announcement that the United States would adopt a 25% tariff on US$50 billion of goods from China related to intellectual property and technology, and pledged further levies if China took retaliatory steps.

"China is unwilling to have a trade war, but the Chinese side has no choice but to strongly oppose this, due to the United States' myopic behaviour that will harm both parties," the commerce ministry said on its website on Friday.

China's commerce ministry said the measures harm the interests of both countries and disrupt world trade order.

"We will immediately introduce tariff measures of the same scale and strength. All the results from the negotiations previously reached by the two parties will be invalid."

Washington and Beijing appeared increasingly headed toward a trade war after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policy, market access and a US$375 billion trade gap.

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