Chinese embassy: Section 301 action self-defeating

Updated 2018-03-23 11:57:05 China Daily

The Chinese embassy in Washington warned on Thursday that the Section 301 action that aims to hurt China could eventually hurt the United States itself.

U.S. President Donald Trump on Thursday signed a memorandum in the White House to impose tariffs on imports from China and restrictions on Chinese foreign direct investment in the United States.

The Chinese embassy statement said the U.S. persisted in conducting the "301 investigation" and announced relevant trade measures, ignoring rational voices, and in disregard of the mutually-beneficial nature of China-U.S. trade relations and the consensus reached by the two countries of managing differences constructively through consultations. It is a typical unilateral trade protectionist action.

"China is strongly disappointed and firmly opposes such an action," the statement said.

Bearing in mind the principles of mutual respect and win-win cooperation, China has demonstrated sincerity in making reasonable suggestions to the U.S., and has made great efforts to address the current trade imbalance between China and the U.S. China does not want a trade war with anyone, according to the statement.

"But China is not afraid of and will not recoil from a trade war. China is confident and capable of facing any challenge. If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures," said the statement.

The Chinese embassy said the actions undertaken by the U.S. are self-defeating and will directly harm the interests of U.S. consumers, companies, and financial markets. They also jeopardize international trade order and world economic stability.

"We urge the U.S. to cease and desist, make cautious decisions, and avoid placing China-U.S. trade relations in danger with the purpose of hurting others that eventually end up hurting itself," said the statement.

"Let me assure those people who intend to fight a trade war. We will certainly fight back. We will retaliate. If people want to play tough, we will play tough with them, and see who will last longer," Chinese Ambassador to the U.S. Cui Tiankai said in a video posted on the embassy's Facebook account on Thursday.

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