China's Foreign Ministry spokesperson Geng Shuang said at a
press briefing that President Trump's threats at "blackmail" would
fail.
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The Chinese yuan also ticked lower against the dollar,
extending its year-to-date decline to more than 4.5 per cent. (Representational
Image)
China Thursday said it is fully prepared to deal with US’
threats to escalate the spiralling trade war between the two countries and will
fight back to defend its dignity and the interests of its people, Reuters
quoted the commerce ministry as saying. China upholds the use of dialogue to
resolve disputes but equal treatment and keeping to promises are pre-requisites
for dialogue, it said in a statement.
Robert Lighthizer, US Trade Representative, told Reuters that
President Donald Trump directed a higher 25 percent tariff from an earlier
proposed 10 per cent, because of Beijing’s refusal to meet US demands and has
imposed retaliatory tariffs.
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China’s Foreign Ministry spokesperson Geng Shuang said at a
press briefing that President Trump’s threats at “blackmail” would fail. “We
would advise the United States to correct its attitude and not try to engage in
blackmail. This won’t work on China,” Geng was quoted by Reuters as saying.
“Secondly, we would advise the US side to return to reason,
and not blindly let emotions affect their decisions, because in the end this
will harm themselves,” Geng added.
Despite the chill in relations between the two countries over
the tariff issue, no formal talks have taken place between Washington and
Beijing for weeks over Trump’s demands that China make fundamental changes to
its policies on intellectual property protection, technology transfers and
subsidies for high technology industries.
If higher tariff rate is implemented, it would apply to a list
of goods valued at $200 billion identified by the USTR last month as a response
to China’s retaliatory tariffs on an initial round of US tariffs on $34 billion
worth of Chinese electronic components, machinery, autos and industrial goods.
Trump has ultimately threatened tariffs on over $500 billion
in Chinese goods, covering virtually all US imports from China.
Source: Express Web Desk
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