China says it's ready to hit back if Trump starts a trade war
China is preparing to retaliate if US president-elect Donald Trump launches a trade war, a key US business lobby group warned on Wednesday.
“To our knowledge, China is already preparing measures in the event of actions by the new administration … should [they] impose restrictions on trade and investment with respect to China,” Lester Ross, head of the American Chamber of Commerce in China’s policy committee, said.
Ross also said new anti-dumping investigations by China were in the pipeline.
“China has indeed threatened to and is preparing to take steps in retaliation if such actions take place,” he said.
Ross made the comments as the chamber unveiled the results of a business survey, which reflected concerns about rising protectionism, limited market assess and unclear regulation in China.
Chamber chairman William Zarit said foreign business had not observed any substantial moves by Beijing towards reforms pledged in 2012. Instead of liberalising or privatising the economy, the reforms seemed to only make state firms more competitive, he said.
The Ministry of Commerce did not reply to the Post’s request for comment.
On the campaign trail, Trump threatened punitive tariffs of up to 45 per cent on China’s exports to the US and nominated hardline China critics to take up positions in his administration.
Addressing the World Economic Forum in Davos, Switzerland, on Tuesday, President Xi Jinping said there would be no winner in a trade war.