China Vows To Retaliate in Response to Trump’s Tariff Threats
Beijing says it does not seek a tariff war but warned it would take countermeasures if President Donald Trump follows through on his threat to impose 100% tariffs on Chinese imports.
In a photo taken on August 19, 2012 workers stand on a roadside near a toxic lake surrounded by rare earth refineries near the city of Baotou, China.
Ed Jones / AFP
Beijing says it does not seek a tariff war but warned it would take countermeasures if President Donald Trump follows through on his threat to impose 100% tariffs on Chinese imports.
The Chinese government said they would implement countermeasures after U.S. President Donald Trump issued a warning of possible 100% punitive tariffs after China reportedly prepared to impose export restrictions on rare earth metals, crucial for various high-tech industries.
On Friday, October 10th, Trump said that he had originally planned to meet with Chinese President Xi Jinping in South Korea in two weeks, but has cancelled. “Now it seems pointless,” he said. “I will be forced to compensate financially for their move.”
Responding on Sunday, a spokesperson for China’s Ministry of Commerce said, “Threatening high tariffs is not the right way to cooperate with China. If the United States continues to act unilaterally, China will definitely take appropriate measures to protect its rights and interests. Our position on the tariff war remains unchanged: we don’t want it, but we are not afraid of it.”
