BEIJING: China said on Tuesday (Oct 14) it was ready to “fight to the end” in a trade war with the United States after President Donald Trump said he would impose an additional 100 per cent tariff on the world’s second-largest economy.
“On the matter of tariff wars and trade wars, China’s position remains consistent,” an unnamed commerce ministry spokesperson said.
“If you wish to fight, we shall fight to the end; if you wish to negotiate, our door remains open.”
Concerns spiked over the weekend that the trade war between the world’s top two economies will worsen after Trump announced extra 100 per cent tariffs on all Chinese goods.
The move, he said, was in response to Beijing’s announcement last week of sweeping new export controls in the strategic field of rare earths – currently dominated by China.
His announcement on Friday rattled markets and called into question a potential upcoming meeting with Chinese counterpart Xi Jinping in South Korea.
Trump’s statement also said the United States would impose export controls “on any and all critical software” from Nov 1.
Source: CNA
