China will respond firmly if the United States insists on escalating trade tensi...
BEIJING - China will respond firmly if the United States insists on escalating trade tensions, the foreign ministry said on Tuesday after U.S. President Donald Trump said further tariffs were ready to kick in if no deal was reached at a G20 summit this month.
Trump said last week he would decide after the meeting of the leaders of the world’s largest economies whether to carry out a threat to impose tariffs on at least $300 billion in Chinese goods. “China does not want to fight a trade war, but we are not afraid of fighting a trade war,” he said, adding China’s door was open to talks based on equality.
“At the G20, at most it will be ... some sort of agreement on a path forward, but certainly it’s not going to be a definite agreement,” Ross told CNBC in a television interview. On May 10, Trump raised tariffs on $200 billion of Chinese goods up to 25% and took steps to levy duties on an additional $300 billion in Chinese imports. Beijing retaliated with tariff hikes on a revised list of $60 billion in U.S. goods.
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