No winners from trade wars, It will bring disaster to China,US


China on Sunday reiterated that the country does not want a trade war with US, saying it will only bring disaster. “No winners from trade wars. It will bring disaster to China, US and the rest of the world. China does not want a trade war and will not be the one to start a trade war,” said Chinese Commerce Minister Zhong Shan.

The Donald Trump administration on Thursday formally declared to impose 25 per cent tariffs on steel imports and 10 per cent on aluminium, granting exemptions for Canada and Mexico, saying, plans for changes on trades for other countries will be imposed through negotiations.

Earlier, the spokesman of the 13th NPC’s first session, Zhang Yesui also insisted of not having a trade war with China, saying, “But if the US takes steps to hurt our interest, we will not sit idle.” “It’s imperative for two countries to perceive each other’s strategic intentions objectively and accurately. Policies formed by misjudgment or wrong presumption will hurt the relations and bring about consequences neither side wants to see.” he said.

Zhang had also said the world should not feel threatened by China’s growth. “We have no intention of overthrowing the existing international order. We are continue to be a defender and contributor of the order. Our hope is that international order would evolve for greater equity and justice.” He rejected the “perception” that China was using the Belt and Road Initiative as a geopolitical tool as a misrepresentation.


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