China to take countermeasures in case of U.S. tariffs hikes

China will have to take "necessary countermeasures" to defend its core national interests and its people's fundamental interests if the United States goes ahead with tariff hikes on Chinese goods worth 300 billion U.S. dollars starting from Sept. 1.

Chinese Foreign Ministry spokesperson Hua Chunying speaks at a daily briefing in Beijing on August 1, 2019. [File Photo: fmprc.gov.cn]

Foreign Ministry spokesperson Hua Chunying made the remarks at a press briefing Friday, adding the ensuing consequences will all be born by the U.S. side.

Calling the 10 percent tariff hikes by the U.S. a "serious violation" of the consensus reached by the two countries' heads of state at the G20 summit in Osaka, Hua said the move has deviated from the right course and will in no way help solve the problem. "China strongly deplores and firmly opposes the move," she added.

The escalation of the trade frictions and the threat of ratcheting up tariffs by the U.S. are in line with neither the interests of the two countries' peoples nor the interests of the world, and will have a recessionary impact on the world economy, the spokesperson said.

"China always believes there is no winner in a trade war. We don't want a trade war, but we are not afraid to fight one if necessary," Hua said, adding the Chinese side will not accept any maximum pressure or intimidation and will never compromise on issues concerning major principles.

Hua urged the U.S. side to grasp the situation, abandon its illusions, correct its mistakes and return to the right track of settling problems via consultations based on equality and mutual respect.