BEIJING (Sputnik) – Economic sanctions and tariffs imposed on China by the United States are nothing but tools of “economic chauvinism and psychological terror,” Chinese Vice Foreign Minister Zhang Hanhui said on Thursday.
“This kind of deliberately provoking trade disputes is naked economic terrorism, economic chauvinism, economic bullying. There can be no winners in a trade war, it will inevitably end up with both sides losing,” Zhang said at a briefing.
The US and China have been trying to overcome disagreements that emerged in the wake of US President Donald Trump’s decision last June to impose 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the trade deficit. Since then, the sides have exchanged several rounds of duties.
The latest hit was made by Washington earlier in May when $200 billion worth of Chinese goods were subjected to the 25 tariff fee. Beijing pledged to retaliate by hiking tariffs on $60 billion worth of US imports starting in June.