Trade war with US will only bring disaster to international economy, says China

BEIJING: Any exchange war with the United States will just bring disaster to the world economy, Chinese Commerce Minister Zhong Shan said on Sunday, as Beijing ventured up its feedback on proposed metals duties by Washington in the midst of fears it could smash worldwide development.

After weight from partners, the United States has opened the path for more exclusions from levies of 25 percent on steel tariffs and 10 percent on aluminum that US President Donald Trump set a week ago. On Saturday, the European Union and Japan asked the United States to allow them exceptions from metal import taxes, with Tokyo calling for “quiet headed conduct.”

Be that as it may, the objective of Trump’s rage is China, whose limit developments have helped add to worldwide surpluses of steel. China has over and again pledged to shield its “legitimate rights and interests” if focused by US exchange activities. Zhong, talking on the sidelines of China’s yearly session of parliament, said China does not need an exchange war and won’t start one.

China can deal with any difficulties and will fearlessly secure its interests, yet the two countries will keep on talking, he said. “No one needs to battle an exchange war, and everybody knows battling one damages others and does not profit oneself.”