China: US ’Opening Fire’ On World with Tariff Threats
The United States is “opening fire” on the world with its threatened tariffs, China warned on Thursday, saying no one wants a trade war but it will respond the instant US measures go into effect as Beijing ramped up the rhetoric in the heated dispute.
The Trump administration’s tariffs on $34 billion of Chinese imports are due to go into effect at 0401 GMT on Friday, which is just after midday in Beijing.
Earlier, US President Donald Trump threatened to escalate the trade conflict with tariffs on as much as $450 billion worth of Chinese goods if China retaliates, with the row roiling financial markets including stocks, currencies and the global trade of commodities from soybeans to coal.
China, in this regard, said it will not “fire the first shot”, but its customs agency made clear on Thursday that Chinese tariffs on US goods would take effect immediately after US duties on Chinese goods kick in.
Speaking at a weekly news conference, Commerce Ministry spokesman Gao Feng warned the proposed US tariffs would hit international supply chains, including foreign companies in the world’s second-largest economy.
“If the US implements tariffs, they will actually be adding tariffs on companies from all countries, including Chinese and US companies,” Gao said.
“US measures are essentially attacking global supply and value chains. To put it simply, the US is opening fire on the entire world, including itself,” he said.
Source: News Agencies, Edited by website team