China on Wednesday lashed out at Washington's unexpected statement that it will press ahead with tariffs and restrictions on investments by Chinese companies, saying Beijing was ready to fight back if Washington was looking to ignite a trade war.To get more china latest news, you can visit shine news official website. The US said on Tuesday that it still held the threat of imposing tariffs on $50bn of imports from China and would use it unless Beijing addressed the issue of theft of American intellectual property.
The declaration came after the two sides had agreed earlier this month to look at steps to narrow China's $375bn trade surplus with America, and days ahead of a visit to Beijing by US Commerce Secretary Wilbur Ross for further negotiations.China on Wednesday lashed out at Washington's unexpected statement that it will press ahead with tariffs and restrictions on investments by Chinese companies, saying Beijing was ready to fight back if Washington was looking to ignite a trade war.
The US said on Tuesday that it still held the threat of imposing tariffs on $50bn of imports from China and would use it unless Beijing addressed the issue of theft of American intellectual property. The declaration came after the two sides had agreed earlier this month to look at steps to narrow China's $375bn trade surplus with America, and days ahead of a visit to Beijing by US Commerce Secretary Wilbur Ross for further negotiations. "The thinking became that if the US doesn't have any leverage and there is no pressure on our Chinese friends, then we will not have serious negotiations." China's Commerce Ministry reacted swiftly overnight with a short statement, saying it was surprised and saw it as contrary to the consensus both sides had reached recently.
The Global Times said the US was suffering from a "delusion" and warned that the "trade renege could leave Washington dancing with itself". The widely read tabloid is run by the Communist Party's official People's Daily, although its stance does not necessarily reflect Chinese government policy. "The Chinese government will have the necessary measures in place to deal with a US withdrawal from any settled agreement.
If the US wants to play games, then China would be more than willing to play along and do so until the very end," it said.Fears of a trade war between the world's two biggest economies had also receded after the administration of President Donald Trump said it had reached a deal that would put ZTE back in business after banning China's second-biggest telecoms equipment maker from buying US technology parts.
Still hanging in the balance, however, is San Diego-based Qualcomm's proposal to acquire NXP Semiconductors NV - a $44bn deal that requires clearance from China's antitrust regulators. The recent easing in tensions had fuelled optimism that an agreement was imminent. "On hold now," a person familiar with Qualcomm's talks with the Chinese government said on Wednesday, declining to be identified as the negotiations are confidential.