China has declared that if a trade war goes down between China and the United States, it won’t be at China’s volition or instigation, declaring that should it happen, it will be the fault of the Trump administration in Washington, D.C. The US has prepared a round of tariffs on Chinese imported goods worth some $34 billion to go into effect on July 6. At the same time, Beijing has prepared its response to the American action, and is set to respond with countermeasures of equal weight.
China will not fire the first shot in implementing tariffs on the United States, the Customs Tariff Commission of the China’s State Council announced on Wednesday.
“The Chinese government has reiterated its stance that it will not fire the first shot and will not preempt the United States’ move of imposing additional tariffs,” it said in a statement on the website of China’s Finance Ministry.
Washington has said it would implement tariffs on $34 billion of Chinese imports on July 6, and Beijing has vowed to retaliate in kind on the same day.
Earlier, Chinese Foreign Ministry spokesman Lu Kang said China was ready to act, though he did not confirm the start date for Chinese tariffs.
“China has already made preparations,” Lu told a daily news briefing.See Also
“As long as the United States issues a so-called tariff list, China will take necessary measures to firmly protect its legitimate interests,” he added.
China’s yuan rose sharply against the dollar on Wednesday, a day after the central bank the People’s Bank of China assured markets it would keep the currency stable amid growing worries about trade friction, although stocks fell.
Since the day has come, and the American have chosen to move forward with their tariffs measures, they have started the largest trade conflict in recorded history. Headlines are likely to issue soon detailing Beijing’s response.