China refuses to bow down: Will fight trade war ‘to the end,’ state media says

By: |
Updated: June 22, 2019 4:31:50 PM

The US must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dialogue can resolve the issue and lead to a win-win, the newspaper said.

 China, trade war, us, us china trade war, G20 summit, Japan,  Xi Jinping, Donald TrumpUS President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the G20 summit in Japan next week to discuss the trade war between their two countries.

China has the strength and patience to withstand the trade war, and will fight to the end if the U.S. administration persists with it, China’s state-run People’s Daily said in an editorial Saturday. The US must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dialogue can resolve the issue and lead to a win-win, the newspaper said.

The paper, a mouthpiece for China’s ruling Communist Party, said the US had failed to take into account the interests of its own people, and they are paying higher costs due to the trade dispute. “Wielding a big stick of tariffs” also disregards the condition of the US economy and the international economic order, according to the editorial.

US President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the G20 summit in Japan next week to discuss the trade war between their two countries. Trump has repeatedly asserted that tariffs on Chinese imports are paid by China, not US consumers — in defiance of the consensus of economists.

If the US chooses to talk, “then it must show some good faith, take account of key concerns from both sides and cancel all tariffs,” the paper said.

Do you know What is Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey, State Finance Commission? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.