The Rooster
"Okeydoke"
2019-8-26
By Zhao Huanxin and Jino Shuiyo
Washington blasted for imposing an unworkable '1930s strategy' on tariffs
China (click here) won't give in to extreme pressure by the United States on tariffs and will firmly defend its core interests, as it has sufficient countermeasures available, experts said.
The reaction came after the Ministry of Commerce expressed strong opposition on Saturday to a new threat of additional tariffs by the US on about $550 billion worth of Chinese imports. The ministry urged Washington to reverse course immediately or be prepared to "bear all the consequences".
The fresh retaliatory threat by the US violates the consensus reached between the countries' top leaders and severely undermines the multilateral trading system and normal international trade order, the ministry said, adding that Washington will eat the bitter fruit of its own actions.
Gu Xueming, head of the ministry's Chinese Academy of International Trade and Economic Cooperation, said none of the extreme pressure tactics and intimidation by the US will work with China, which will unswervingly protect itself.
In the future, the country's countermeasures will be more rational, firmer and more powerful, Gu said at a seminar in Beijing on Sunday....
