China vows to respond if America escalates trade war

  • by Ofeed Team
  • June 11, 2019, 14:28 AM
  • 83 Views
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The Chinese Foreign Ministry said on Tuesday that the government will respond with strong determination as the United States insisted on escalating trade tensions after President Trump's remarks that would be more tariffs to be added if no agreement was reached by the two world’s largest economies in June during the G-20 summit.

Trump said on Monday that if he and President Xi Jinping couldn’t make an agreement during G-20 summit in Osaka, he would be ready to impose more tariffs on Chinese goods.

In response, Geng Shuang Chinese Foreign Ministry spokesman would not confirm XI-Trump meeting during G-20 till the availability of this information to them.

"China does not want to fight a trade war, but we are not afraid of fighting a trade war," and "If the United States only wants to escalate trade frictions, we will resolutely respond and fight to the end," Shuang mentioned.

It is worth mentioning that the trade war between the U.S. and China escalated after Trump raised tariffs on Chinese goods worth $200 billion by 25 percent, while Beijing has responded by increasing tariffs on a revised list of US goods that worth 60 billion dollar.

Investors fear that China will retaliate by including US companies in a blacklist in response to putting Huawei Technologies Co Ltd on a blacklist that effectively prevents US companies from dealing with it after accusations of forced technology transfers and theft of U.S. trade secrets.

Ofeed Team

Ofeed’s team is comprised of highly distinguished analysts, with a wide experience in financial markets, having a unique analytical view of developments impacting global financial markets

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