China does not want trade war but is not afraid of fighting one
Print Edition
CHINA will respond firmly if the United States insists on escalating trade tensions, the foreign ministry stated yesterday after US President Donald Trump said further tariffs were ready to kick in if no deal was reached at this month’s G20 summit.
Trump has repeatedly said he is getting ready to meet Chinese President Xi Jinping at the Osaka summit at the end of June, but China has not confirmed it.
Trump said last week he would decide after the meeting of the leaders of the world’s largest economies whether to carry out a threat to impose tariffs on at least US$300 billion in Chinese goods.
On Monday, Trump said he was ready to impose another round of tariffs on Chinese imports if he cannot make progress in trade talks in Osaka.
Chinese Foreign Ministry spokesman Geng Shuang did not confirm a Xi-Trump meeting at G20.
“We note that for some time, the US has made multiple public statements that it looks forward to a meeting between the two heads of states during the G20 Osaka Summit,” Geng said.
“We will release information on this when we have it.
“China does not want to fight a trade war, but we are not afraid of fighting a trade war,” he said, adding that China’s door was open to talks based on equality.
“If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end.”
Trump is buoyed by his self-declared victory following a days-long battle with Mexico after he threatened to impose tariffs unless Mexican authorities did more to stem the migrant flow to their shared border.
The two fights have pitted the Trump administration against its top two trading partners.
US Commerce Secretary Wilbur Ross yesterday downplayed the likelihood of resolving the dispute at the G20 summit, saying it would not be “a place where anyone makes a definitive deal.”
“At the G20, at most it will be ... some sort of agreement on a path forward, but certainly it’s not going to be a definite agreement,” Ross told CNBC.
Nearly a year after Trump began imposing the higher tariffs, hopes are focused on a possible top-level meeting to break a stalemate in talks that were suspended last month.
Tensions between the two countries rose sharply in May after Trump raised tariffs on US$200 billion of Chinese goods up to 25 percent on May 10 and took steps to levy duties on an additional US$300 billion in Chinese imports.
China retaliated with tariff hikes on a revised list of US$60 billion in US goods.
Meanwhile, a top executive of telecom gear-maker Huawei Technologies said it will need more time to become the world’s largest smartphone maker, a goal it originally aimed to achieve in the fourth quarter of this year.
Huawei vaulted past Apple to become the No. 2 global smartphone brand behind South Korea’s Samsung last year, as its total sales surged almost 20 percent to exceed US$100 billion.
“If we had not encountered anything unexpected, we would have become No. 1 in the world by the fourth quarter,” Huawei’s chief strategist, Shao Yang, said yesterday at the Consumer Electronics Show being held in Shanghai.
“But now we have to wait a little bit longer to achieve that.”
The comments come after the United States put Huawei on a blacklist last month that barred it from doing business with US companies on security grounds without government approval, prompting some global tech companies to cut ties with the world’s largest telecommunication equipment maker.
Chinese authorities say the United States is exaggerating security concerns to block a potential competitor.
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