Qilai Shen | Bloomberg | Getty Images
U.S. President Donald Trump (L) in addition to Xi Jinping (R) , China’s president, shake hands during a news conference at the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017.
China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned, as President Donald Trump was required to announce completely new tariffs on $0 billion in Chinese goods as early as Monday.
Beijing may also decline to participate in proposed trade talks with Washington later This particular month if the Trump administration goes ahead with the additional tariffs, The Wall Street Journal reported on Sunday, citing Chinese officials.
The Journal report quoted one senior Chinese advisory official saying China would likely not negotiate “using a gun pointed to its head.”
The United States in addition to China have already levied duties on $50 billion worth of each different’s goods in an intensifying row that will has jolted global financial markets within the past few months.
Last week, the planet’s two biggest economies appeared to be doing progress on the trade snag after the U.S. Treasury Department invited senior Chinese officials including Vice Premier Liu He for more talks.
However, a senior administration official told Reuters over the weekend that will Trump will be likely to announce the completely new tariffs as early as Monday.
“that will will be nothing completely new for the U.S. to try to escalate tensions so as to exploit more gains at the negotiating table,” the Global Times, which will be published by the ruling Communist Party’s People’s Daily, wrote in an editorial on Monday.
“We are looking forward to a more beautiful counter-attack in addition to will keep increasing the pain felt by the U.S.,” the Chinese-language column said.
Besides retaliating with tariffs, China could also restrict export of goods, raw materials in addition to components core to U.S. manufacturing supply chains, former finance minister Lou Jiwei told a Beijing forum on Sunday, according to an attendee.
Lou will be chairman of the National Council for Social Security Fund.
One person, who attended the event in addition to will be familiar with the White House’s thinking, said such a move would likely likely attract sharp retaliation coming from Washington, which has studied its own limits on exporting key technologies to China.
“Lou Jiwei’s approach would likely feed the most hawkish sentiments within the U.S. government,” the person said, declining to be identified given the sensitivity of the matter.
Trump has demanded that will China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring U.S. technologies in addition to intellectual property in addition to roll back high-tech industrial subsidies.