Published: Mon, March 12, 2018

China says trade war with United States will bring disaster

China says trade war with United States will bring disaster

Zhong said China has the ability to deal with "any kind of challenges" and the country will "decisively" protect the interests of the state and its people.

This comes after U.S. President Donald Trump on Thursday signed a proclamation that sets the tariff on imports of steel at 25% and on aluminum at 10%, to be effected in 15 days.

"Things like US agricultural products, soy, cotton - even aircraft and tech products, perhaps?" the reporter asked. "It will only bring disaster to China and the United States and the world".

In response to that, China expressed "opposition" to the tariffs imposed by the United States on the imports of steel and aluminum, saying the move will undermine normal worldwide trade order.

The Trump administration has urged Beijing to take steps to reduce the U.S.

The country will also work to promote the liberalization and facilitation of trade and investment along the Belt and Road, while carrying out major foreign aid projects including the Happy Home Projects, the Anti-Poverty Projects and the Health Recovery Projects, Zhong said.

Trade tensions between the world's two largest economies are widely expected to intensify this year as Washington's trade policy with Beijing is influenced by hardliners such as White House trade adviser Peter Navarro and US Trade Representative Robert Lighthizer.

The US trade shortfall in goods with China surged 8.1 percent during the first year of Trump's presidency, reaching a record $375 billion, according to Commerce Department data released last month.

US officials have said such sales would make up only a few percent of the deficit while possibly threatening American national security.

While he declined to say how Beijing planned to respond to the tariffs imposed by Washington on aluminium and steel imports, he said the two sides remained in talks on the issue.

"There are no winners in a trade war", Zhong said. China doesn't want a trade war, and will not start a trade war. The country has always been among the top global destinations for investment, but foreign enthusiasm is cooling.

More than 150,000 buyers from home and overseas are expected at the event, he said. "The fact that they have complaints indicates that they are still paying attention to China's development and have confidence in China's market".

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