China warns countries against striking trade deals with US at its expense

BEIJING: China on Monday warned countries against striking a broader economic deal with the United States at its expense, ratcheting up its rhetoric in a spiralling trade war between the world’s two biggest economies.

China respects all parties resolving economic and trade differences with the United States through consultation on an equal footing, but it will firmly oppose any party striking a deal at China’s expense, its Commerce Ministry said.

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Beijing “will take countermeasures in a resolute and reciprocal manner” if any country sought such deals, a ministry spokesperson said, addressing a news report that the Trump administration was preparing to pressure other countries to limit trade with China in exchange for tariff exemptions from the United States.

“United States has abused tariffs on all trading partners under the banner of so-called ‘equivalence’, while also forcing all parties to start so-called ‘reciprocal tariffs’ negotiations with them,” the spokesperson said.

China is determined and capable of safeguarding its own rights and interests, and is willing to strengthen solidarity with all parties, the ministry said.

The Trump administration is preparing to pressure nations seeking tariff reductions or exemptions from the U.S to curb trade with China, including imposing monetary sanctions, Bloomberg reported citing sources familiar with the matter.

Earlier this month, U.S. Trade Representative Jamieson Greer said nearly 50 countries have approached him to discuss the steep additional tariffs imposed by President Donald Trump.

Several bilateral talks on tariffs have taken place since, with Japan considering raising soybean and rice imports as part of its talks with the U.S. while Indonesia is planning to increase U.S. food and commodities imports and reduce orders from other nations.

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Trump paused the historic tariffs he announced on dozens of countries on April 2 except those on China, singling out the world’s second largest economy for the biggest levies.

China’s President Xi Jinping set off through three Southeast Asian countries last week in a move to bolster regional ties, calling on trade partners to oppose unilateral bullying.

“There are no winners in trade wars and tariff wars,” Xi said in an article published in Vietnamese media, without mentioning the United States.