Commerce minister: China doesn't want trade war with US

No one wants a trade war says China

"There are no winners in a trade war", Zhong said.

As we reported earlier, new tariffs on aluminium import were adopted in the U.S. this week.

The European Union and Japan urged the United States to grant them exemptions from metal import tariffs, with Tokyo calling for "calm-headed behaviour".

CHINA'S commerce minister said today that Beijing and Washington are still holding economic talks as he warned that a trade war would harm both nations.

But China will not start a trade war and it will continue talks with the U.S., he said at a press briefing on the sidelines of the ongoing annual parliamentary session.

China can handle any challenges and will resolutely protect its interests, but the two countries will continue to talk, he said. Last week, Trump tweeted the United States could win a trade war. "No one wants a trade war and it serves nobody's interests", Zhong said.

China's metals industry issued the country's most explicit threat yet in the row, urging on Friday for the government to retaliate by targeting United States coal - a sector that is central to Trump's political base and his election pledge to restore American industries and blue-collar jobs. Of those imports, South Korea, Japan, China and India accounted for 6.6 million tonnes.

Winter storm warning issued for expected Monday snow
A chance of snow is possible before 2 p.m., according to NWS, though no "significant winter storm" is expected. After that, the likelihood goes up to 90 percent, and snow and sleet may be coming down as well.

Chinese leaders have threatened in the past to retaliate against raised trade barriers, but have yet to take direct action following Trump's announcement.

Fears of a trade war between the world's No. 1 and No. 2 economies heightened last week after US President Donald Trump signed an order imposing a 25 per cent tariff on imported steel, and 10 per cent on imported aluminium.

He cited American government research that he said showed the figure for the surplus in China's favour overstated by roughly 20% and said that if the U.S. dropped restrictions on high tech exports to China it would further reduce the surplus by 35%.

He also reiterated a previous pledge that China would lower import tariffs on consumer goods including automobiles, as part of an effort to boost domestic consumption.

China does not want to enter in a war with the U.S., as it would have devastating consequences for world's economy.

Zhong blamed the trade imbalance in part on controls over US high-tech exports to China, repeating a Chinese claim that Washington could narrow its trade deficit if it allowed Beijing to buy more "dual use" technology such as supercomputers and advanced materials with military applications.

Related news:

Hot News

isis-killer-beheading-video-story-top Cricket South Africa apologise for SBW masks
Mar 12, 2018 - 02:35
The left-hander was fined 15 per cent of his match fee in 2014 for accusing AB de Villiers of ball tampering at the same venue. Rabada denies the contact was intentional but faces being banned for the final two tests of the series if found guilty.

isis-killer-beheading-video-story-top Special Counsel Robert Mueller Is 'The Bachelor' In New SNL Cold Open
Mar 12, 2018 - 02:35
Looking for news you can trust? And in two of the earliest sketches in Saturday night's episode, hosted by Sterling K. Brown , the show proved that there's pretty much no drama on television that can't, somehow, connect to Trumpworld.

isis-killer-beheading-video-story-top Gal Gadot Welcomes Kristen Wiig To 'Wonder Woman 2'
Mar 12, 2018 - 02:34
Kristen Wiig arrives at the 9th annual Governors Awards at the Dolby Ballroom on November 11, 2017, in Los Angeles. It's true! So incredibly lucky to welcome the sensationally talented Kristen Wiig to our Wonder Woman family.

isis-killer-beheading-video-story-top Jordan Ayew Sees Red In Swansea City Draw At Huddersfield Town
Mar 12, 2018 - 02:34
We prepared all week with two attackers, Jordan Ayew and Andre Ayew, to give us a bridge to attack. Jordan's side despite their numerical disadvantage held the home side to a 0-0 drawn game.

isis-killer-beheading-video-story-top Chris Hughton: 'Brighton & Hove Albion were not good enough'
Mar 12, 2018 - 02:33
Asked about Walcott's fitness status at his post-match press conference, Allardyce explained: 'Cramp, so he should be OK. CHRIS HUGHTON has put his Albion players on guard after their return to the top half of the Premier League table.

isis-killer-beheading-video-story-top Sen. Elizabeth Warren: "I'm not running for president in 2020"
Mar 12, 2018 - 02:32
In the speech, Warren, who doesn't claim citizenship in a tribe, said, "My mother's family was part Native American". Warren's public embrace of her family story could carry political risks - but not necessarily from Trump.

isis-killer-beheading-video-story-top Lisa Bonet Breaks Silence About TV Dad Bill Cosby
Mar 12, 2018 - 02:32
Cosby was against Bonet's posing topless in magazines and taking a racy role in Angel Heart opposite Mickey Rourke . Lisa Bonet has finally broken her silence about Bill Cosby and now we know why she waited so long.

isis-killer-beheading-video-story-top Ontario PCs confirm 'definitive' win for Doug Ford
Mar 12, 2018 - 02:30
Lefton said a review was underway and told the crowd to leave the hall and go home since the venue was needed for another event. The party said almost 77,000 members had registered to vote and more than 44,000 had cast a ballot as of Wednesday evening.

isis-killer-beheading-video-story-top Watford and Arsenal bosses have their say on Troy Deeney's comments
Mar 12, 2018 - 02:28
And after the game, the Armenian forward gave a very honest interview to beIN Sport, one which has really impressed Arsenal fans. One trusted Arsenal Twitter account posted about the interview, hinting that Mkhitaryan's words may be viewed as controversial.

isis-killer-beheading-video-story-top Go Inside Khloé Kardashian's Lavish Pink-Themed Baby Shower!
Mar 12, 2018 - 02:16
Guests included Jen Atkin, Maria Menounos , Kyle Richards and more, all of whom had a chance to pose in the photo booth with props, including pink crowns and a pacifier.

isis-killer-beheading-video-story-top Nun involved in lawsuit with Katy Perry over LA convent dies
Mar 12, 2018 - 02:14
On the day of her death, Sister Catherine gave a statement to KTTV as she entered the courthouse: "To Katy Perry , please stop ". In contrast, Hollister paid $44,000 and agreed to a contingent promissory note to pay $9.9 million in three years.

isis-killer-beheading-video-story-top Canada, Mexico excused from US tariffs for undetermined period
Mar 12, 2018 - 02:09
Tammy Baldwin is offering a mixed reaction to President Donald Trump's steel and aluminum tariffs widely panned by Republicans . Steel tariffs didn't work when President Bush implemented them in 2002 or when President Obama proposed them on tires in 2009.

isis-killer-beheading-video-story-top Beto O'Rourke, Gina Ortiz Jones Won in Texas Primaries
Mar 12, 2018 - 02:04
Richards won that race handily with 78 percent of the vote. "It's Trump. That's 20 points more than the 40% that went to Democratic candidates.

isis-killer-beheading-video-story-top WWE Fastlane 2018 Match Card
Mar 12, 2018 - 02:01
US Champion Bobby Roode also faces a huge challenge as he puts the title on the line against 13-time world champion Randy Orton. That list includes The New Day but the trio have returned for second helpings and they think they can best the twins.

isis-killer-beheading-video-story-top ESPN Makes Monday Night Football Announcer Change Official
Mar 12, 2018 - 01:57
ESPN said in a news release Friday night that McDonough signed a multiyear contract extension. Tessitore has been with ESPN since 2002, calling boxing and then college football.