Trade War: China warns US to step back 'from brink of precipice'
China on Friday warned the United States to 'pause on the brink of a precipice' as it threatened repercussions on President Donald Trump for imposing tariffs on imports from China worth $60 billion.
The move has sparked a global fear of a trade war between the two biggest economies in the world.
Meanwhile, Beijing has responded by listing 128 US imports- including fruit, wine, and steel pipes, that it would place tariffs on worth up to $3 billion.
That measure itself was a response to Trumps earlier imposition of tariffs on steel in early March. Beijing hasn't yet indicated how it would respond to the latest move by the US.
It is more than likely for China to impose further tariffs on US imports worth billions of dollars, and restricting US agricultural products such as soybeans- one of the major American exports to China, This has been seen as one option that would hurt US farmers, a segment of Trump's base.
Chinas government on Friday reacted to this move, with the Ministry of Commerce saying, China will not sit ideally watching its legitimate rights and interests being damaged under any circumstance.
"We are fully prepared to firmly defend our interests," he said.
The Chinese Embassy in Washington made it clear that Beijing will retaliate, saying, If a trade war were initiated by the US, China would fight to the end to defend its own legitimate interests with all necessary measures.
The Communist Party-run tabloid Global Times said Beijing wouldn't blink in a trade war. "China is now being forced to fight back in this trade war. China's society is highly united, and this will be reflected in its actions as the trade war comes into effect. China's residents possess a level of endurance that the US cannot compete with. Any trade war will only lead to a lose-lose situation."
"The US should not fool itself into thinking that China can be pressured to be folded under such tactics, the newspaper added."
"If a trade war were to take place, the two countries would be matched regarding the other's strengths and capabilities.Trump's famous temper tantrums indicate that his image is an act and that he is one of the most lackluster US presidents. Washington should dismiss the idea that China will concede in this trade war because it will find no white flags to mark China's surrender. Instead, Washington will charge blindly into a bullfighter's red cape." it read.