As China holds annual political meetings, it worries about a trade war swirl, and a constitutional amendment to scrap the president’s term in office raises concerns
China has added its voice to a growing chorus of concern about the rising threat of a trade war and tariffs that U. S. President Donald Trump is expected to impose on steel and aluminum imports later this week.
A top Chinese diplomat says that while Beijing does not want a trade war with Washington, it will defend its interests if necessary.
Speaking at a press conference ahead of China’s annual legislative meetings, Vice Foreign Minister Zhang Yesui also gave assurances that the rise of world’s second largest economy and a rise in military spending was no cause for alarm.
“China does not want a trade war with the Untied States, but we will absolutely not sit idly by and watch as China’s interests are damaged,” Zhang said.
Tit for tat
Last week, the U. S. president announced plans to slap tariffs of 25 percent on steel and 10 percent on aluminum imports.
China is a key country Washington is aiming to target with the tariffs, but the decision also has sparked a global backlash with leaders of other affected nations such as Canada and Europe, which are warning they, too, are prepared to take countermeasures.
Analysts have said that if President Trump follows through on his pledges to get tough with China on trade, Beijing could respond by targeting the airline and agricultural sectors, even focusing on communities in the United States where support for the president was strong during the 2016 election.
Zhang, who also is serving as the rotating spokesperson of the National People’s Congress (NPC) said the best way to improve trade is to open up markets further and expanding the “pie of cooperation.”
„If policies are made on the basis of mistaken judgments or assumptions, it will damage bilateral relations and bring about consequences that neither country wants to see,“ Zhang said.
Rising concerns about a trade war are likely to be a hot topic during the annual political meetings.
