We does not want a trade war with United States : China

Vastavam web: China does not want a trade war with the United States but will defend its interests, a senior Chinese diplomat said on Sunday, after U.S. President Donald Trump announced a plan to put tariffs on steel and aluminium imports.Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, a day after he said he intended to put duties of 25 percent on steel imports and 10 percent on aluminium products.

Negotiations and mutual opening of markets were the best ways to resolve trade frictions, Chinese Vice Foreign Minister Zhang Yesui said at a briefing ahead of China’s annual session of parliament, which opens this week.“China does not want to fight a trade war with the United States, but we absolutely will not sit by and watch as China’s interests are damaged,” Zhang, who is a spokesman for parliament and was formerly an ambassador to the United States, said.“If policies are made on the basis of mistaken judgements or assumptions, it will damage bilateral relations and bring about consequences that neither country wants to see,” he said.

Trump believes the tariffs will safeguard American jobs, but many economists say the impact of price increases for users of steel and aluminium, such as the auto and oil industries, will destroy more jobs than curbs on imports create.His administration has said the United States mistakenly supported China’s membership in the World Trade Organization in 2001 on terms that have failed to force Beijing to open its economy.