China Would Fight Trade War ‘to the End,’ State Media Says
China has the strength and patience to withstand the trade war, and will fight to the end, China’s state-run People’s Daily said.
(Bloomberg) -- China has the strength and patience to withstand the trade war, and will fight to the end if the U.S. administration persists with it, China’s state-run People’s Daily said in an editorial Saturday.
The U.S. must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dialogue can resolve the issue and lead to a win-win, the newspaper said.
The paper, a mouthpiece for China’s ruling Communist Party, said the U.S. had failed to take into account the interests of its own people, and they are paying higher costs due to the trade dispute. “Wielding a big stick of tariffs” also disregards the condition of the U.S. economy and the international economic order, according to the editorial.
U.S. President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the G20 summit in Japan next week to discuss the trade war between their two countries. Trump has repeatedly asserted that tariffs on Chinese imports are paid by China, not U.S. consumers -- in defiance of the consensus of economists.
If the U.S. chooses to talk, “then it must show some good faith, take account of key concerns from both sides and cancel all tariffs,” the paper said.
To contact Bloomberg News staff for this story: Amanda Wang in Shanghai at twang234@bloomberg.net;Evelyn Yu in Shanghai at yyu263@bloomberg.net
To contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, Finbarr Flynn, Dave McCombs
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With assistance from Bloomberg