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Free AccessMNI: China Retaliates With Tariffs But Does Not Want Trade War
BEIJING (MNI) - Following the imposition of US tariffs on $34 billion worth
of Chinese imports on Friday morning, China immediately responded with levies on
an equivalent value of US goods, China's Ministry of Foreign Affairs (MFA)
confirmed Friday.
"When our legitimate interests are unfairly treated, without question we
will fight back," Lu Kang, MFA spokesman, said at a press briefing in Beijing.
China hoped that trade conflicts with the U.S. would not escalate into an
all-out trade war -- which would benefit no one -- Lu stressed. Bullying and
threatening will lead nowhere, he added.
While criticising the U.S. action for being "unilateral" and "unfair," Lu
said that the two countries have been in communication regarding various issues
of mutual interest. However, he did not directly respond to a reporter's enquiry
as to when Chinese President Xi Jinping and U.S. President Donald Trump last
spoke to each other.
"China's position regarding trade is clear and consistent," Lu asserted.
"U.S. officials have been aware of our position."
"We hope the other party have an objective understanding of globalization
and the issues arising from globalization," Lu added. "We hope the related
issues will be resolved reasonably and properly."
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI London Bureau; +44 207-862-7489; email: ukeditorial@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$U$$$,MC$$$$,MI$$$$,MGQ$$$,MGU$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.