UPDATED 7:47 AM PT — Thursday, May 9, 2019
Beijing is threatening to take retaliatory measures against the U.S. if it goes through with raising tariffs on imported Chinese goods. The Chinese Ministry of Commerce issued the warning in a statement Wednesday.
Ministry spokesperson Gao Feng said Beijing is prepared to implement countermeasures if trade frictions escalate. Despite this, the White House appears to be standing by its decision to slap 25-percent tariffs on $250 billion worth of Chinese goods on Friday.
“China hopes the United States meets China half way and resolves problems through dialog rather than unilateral steps, stated Feng. “Our goal is to reach a mutual beneficial deal based on mutual respect and treating each other equally…China is fully prepared, determined and capable of defending its legal rights.”
The Chinese vice premier is headed to Washington Thursday for the next round of trade negotiations.