Trump Tariffs Won't Force China's Hand Says State-Run Newspaper
(Bloomberg) -- It would be a "serious mistake" for U.S. President Donald Trump to try to force China to make concessions in the face of high tariffs, according to an editorial in China’s state-run English-language newspaper.
"Underestimating China’s resolve to safeguard its legitimate interests, the United States will find its protectionist measures backfiring to harm its own industries and the American people," the China Daily editorial said Tuesday.
It pointed to warnings from U.S. industry groups like the U.S. Chamber of Commerce and the National Association of Manufacturers, while adding that China has faced external economic shocks before and always manages to come through them.
On Monday, Trump authorized a 10 percent tariff on $200 billion of Chinese imports, adding to the tariffs on $50 billion of goods that were already in place. On Tuesday, China’s Ministry of Commerce published a statement in which it vowed to retaliate.
"The Trump administration should realize China-U.S. trade and other economic differences can be resolved only through talks," it said. "If indeed the U.S. wants to end the trade confrontation, it should show more sincerity and adopt a down-to-earth, problem-solving approach."
To contact Bloomberg News staff for this story: Matthew Boesler in Beijing at firstname.lastname@example.org
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With assistance from Editorial Board