Trade war with United States will bring disaster to world economy

China's Commerce Minister Zhong Shan speaks at the 11th World Trade Organization's ministerial conference in Buenos Aires, Argentina December 11, 2017. REUTERS/Marcos Brindicci

Vastavam web: Any trade war with the United States will only bring disaster to the world economy, Chinese Commerce Minister Zhong Shan said on Sunday, as Beijing stepped up its criticism on proposed metals tariffs by Washington amid fears it could shatter global growth.After pressure from allies, the United States has opened the way for more exemptions from tariffs of 25 percent on steel imports and 10 percent on aluminium that U.S. President Donald Trump set last week.

But the target of Trump’s ire is China, whose capacity expansions have helped add to global surpluses of steel. China has repeatedly vowed to defend its “legitimate rights and interests” if targeted by U.S. trade actions.Zhong, speaking on the sidelines of China’s annual session of parliament, said China does not want a trade war and will not initiate one.