China takes counter-measures if the United States introduce import taxes on 300 billion dollars worth of Chinese products. The Chinese Ministry of Foreign Affairs reported this on Friday in response to the threat from President Donald Trump. The new sanctions would start in September.
“China is not looking for a trade war, but when it comes to that, Beijing will not shrink”, a ministry spokeswoman warned.
No details have yet been disclosed about what steps the Chinese are considering.
Foreign Minister Wang Yi said “new import tariffs are not a good solution to trade tensions”.
China’s alleged strategy of extending trade negotiations to the next US presidential election, according to experts at Trump and his negotiators, went down the wrong way. In addition, Trump is also angry about China’s unfulfilled promises to buy more American agricultural products and machinery.