CHINA has taken swift, firm countermeasures following the latest U.S. tariff hike on Chinese imports, in a move to safeguard its legitimate rights and interests. The Chinese Government on Wednesday announced that it will raise additional tariffs on products imported from the United States to 84%, add six U.S. firms to its unreliable entity list, and place 12 U.S. entities on its export control list. These steps — all in effect from 12:01 p.m. Thursday — came after the country pledged to take countermeasures with “firm will” and “abundant means” following the United States’ decision to raise its so-called reciprocal tariffs on Chinese imports from 34% to 84% on Tuesday. China does not want to fight trade and tariff wars, but will not flinch when a trade and tariff war comes, Chinese foreign ministry spokesperson Lin Jian told a press briefing Thursday after U.S. President Donald Trump threatened to impose more tariffs on imported Chinese products. Trump said late Wednesday that he was pausing his new tariffs for 90 days except on China, which he announced he will raise to 125%. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump posted. China on Wednesday also filed a case against the United States with the World Trade Organization’s dispute settlement mechanism over the latest tariff hike. Meanwhile, China’s Ministry of Education on Wednesday released an overseas study alert urging Chinese students to assess security risks and raise their awareness of precautions if they consider studying in certain U.S. states. The alert was issued after the U.S. state of Ohio passed a higher education bill recently that includes negative provisions related to China and imposes restrictions on educational exchange and cooperation between Chinese and U.S. higher education institutions, the ministry said. China’s Ministry of Culture and Tourism on Wednesday night also released a notice urging Chinese tourists to fully assess the risks of traveling to the United States, and to exercise caution when traveling to the country. China’s State Council Information Office on Wednesday released a white paper to clarify the facts about China-U.S. economic and trade relations, and to elaborate on China’s position on relevant issues. “I want to emphasize that there is no winner in a trade war, and that China does not want a trade war. But the Chinese Government will by no means sit by when the legitimate rights and interests of its people are being hurt and deprived,” an official of China’s Ministry of Commerce said in a statement Wednesday. The official said that the United States’ use of tariffs as a weapon to exert maximum pressure and pursue its self-interests is a typical act of unilateralism, protectionism and economic bullying. Under the guise of pursuing “reciprocity” and “fairness,” the United States is engaging in zero-sum games and, in essence, seeking “America First” and “American exceptionalism,” the official said. China is willing to communicate with the U.S. side on key bilateral economic and trade issues, address their respective concerns through dialogue and consultations on an equal footing, and jointly advance the steady, healthy and sustainable development of China-U.S. economic and trade relations, the official noted. “If the United States really seeks to resolve the issue through dialogue and negotiation, it should demonstrate an attitude of equality, respect and reciprocity,” Chinese foreign ministry spokesperson Lin told a daily news briefing Wednesday. “If the United States is bent on waging a tariff war or trade war, China is ready to fight to the end,” Lin said, noting that China has the capability and confidence to cope with various risks and challenges. (Xinhua, China Daily) Key takeaways of white paper on China-US economic, trade relations ● Since the beginning of trade friction in 2018, the U.S. side has imposed tariffs on Chinese exports worth more than US$500 billion, and has continuously implemented policies aimed at containing and suppressing China. ● China never deliberately pursues a trade surplus, and the trade balance in goods between China and the United States is both an inevitable result of the structural issues in the U.S. economy and a consequence of the comparative advantages and international division of labor between the two countries. ● The stable development of China-U.S. economic and trade relations is in the fundamental interest of both nations and peoples, which is also conducive to global economic development. ● Trade in services between China and the United States has maintained rapid growth, while the two countries are important two-way investment partners. ● The “reciprocal tariffs” imposed by the United States will damage its own and others’ interests. ● The imposition of “reciprocal tariffs” is a severe violation of World Trade Organization rules that damages the multilateral trading system and erodes the legitimate rights and interests of the parties affected. ● The U.S. Government has erected high trade barriers in the name of goals such as “industrial protection” and “national security.” The move will not help solve domestic economic problems, but will ultimately backfire and make the United States a victim of its own misdeeds. ● China and the United States can resolve differences in economic and trade areas through equal-footed dialogue and mutually beneficial cooperation. ● The world anticipates China-U.S. cooperation to generate more development opportunities. | 