China’s Foreign Ministry said on Monday that it would strike back at the U.S. if Washington moved forward with new tariffs on $200 billion of its exports.
“If the U.S. launches any new tariff measures, China will have to take countermeasures to firmly ensure our legitimate rights and interests,” Foreign Ministry spokesman Geng Shuang told reporters during a regular press briefing.
The two countries have been embroiled for months in a trade conflict that has threatened to hurt consumers in both countries. Mr. Trump has already imposed 25% tariffs on $50 billion in goods from China.
Escalation in conflict
Last week, Beijing welcomed Washington’s offer to hold fresh trade talks and said the two sides were discussing details.
But over the weekend the Wall Street Journal reported that U.S. President Trump planned to announce tariffs on $200 billion of Chinese goods early this week and that the move could cause Chinese officials to cancel the talks. The U.S. imports around $500 billion in goods from China.
“An escalating trade conflict serves no one’s interests,” said Mr. Geng. In response to Mr. Trump’s threatened tariffs, Beijing has teed up tariffs of 5%-25% on $60 billion of U.S. goods.
