China’s foreign minister Wang Yi, however, said that such a war would only harm all sides. He added China had no intention of displacing the United States and that the two countries did not have to be rivals. (CNBC) – China’s foreign minister Wang Yi said on Thursday that China
(CNBC) – China’s foreign minister Wang Yi said on Thursday that China would make a necessary response in the event of a trade war with the United States but added that such a war would only harm all sides.
Speaking on the sidelines of an annual meeting of China’s parliament, Wang said China had no intention of displacing the United States and that the two countries did not have to be rivals but should strive to be partners.
U. S. President Donald Trump is expected to establish tariffs of 25 percent on imported steel and 10 percent on imported aluminium this week, but the White House has said there could be a 30-day exemption for Mexico and Canada and some other countries based on national security.
Such a move aims to counter cheap imports, especially from China, that Trump says undermine U. S. industry and jobs.
Wang sid that history has shown trade wars were not the correct way to resolve problems.
“Especially given today’s globalisation, choosing a trade war is a mistaken prescription. The outcome will only be harmful,” Wang said.
“China would have to make a justified and necessary response,” he said.
Wang said China had a long way to go on its path of modernisation, and that it “will not and need not displace the United States.
