China to impose tariffs on $60 bn of US goods despite Donald Trump warning
China says tariffs on US goods effective 1 June on a total of 5,140 products
Trump urges Beijing to keep working to reach deal
Washington/Beijing: China said on Monday it would impose higher tariffs on a range of US goods, striking back in its trade war with Washington shortly after US President Donald Trump warned it not to retaliate.
Steady drum beat
Trump last week also ordered US Trade Representative Robert Lighthizer to begin imposing tariffs on all remaining imports from China, a move that would affect an additional $300 billion worth of goods.
Asked about the threat, Geng said: "We have said many times that adding tariffs won't resolve any problem ... We have the confidence and the ability to protect our lawful and legitimate rights."
Chinese state media kept up a steady drum beat of strongly worded commentary on Monday, reiterating that China's door to talks was always open, but vowing to defend the country's interests and dignity.
In a commentary, state television said the effect on the Chinese economy from the US tariffs was "totally controllable."
"It's no big deal. China is bound to turn crisis to opportunity and use this to test its abilities, to make the country even stronger."
Before high-level talks last week in Washington, China tried to delete commitments from a draft agreement that Chinese laws would be changed to enact new policies on issues from intellectual property protection to forced technology transfers. That dealt a major setback to negotiations.
Trump has since defended the US tariff hike and said he was in "absolutely no rush" to finalize a deal.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!