We’d like to emphasize again that China’s tariff on USD 3b of US goods, including pork, is a response to the steel and aluminum tariff. The statement of the Ministry of Commerce is here (in Simplified Chinese).
There is another response to the section 301 related tariffs, announced yesterday, on USD 50-60b of China import to US, in here (in Simplified Chinese too).
In short, regarding the section 301 tariffs, China said it “doesn’t hope to be in a trade war, but is not afraid of engaging in one.” And, “China hopes the United States will pull back from the brink, make prudent decisions, and avoid dragging bilateral trade relations to a dangerous place.”
An MOFCOM spokesperson also said “we firmly oppose” to the section 301 tariffs. He added that “it is a typical unilateral and protectionist practice.” And China is “fully prepared to firmly defend our interests.” And have “have confidence and capability in dealing with any challenges.”
