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Beijing has made adequate preparations to respond to US trade, said Thursday the Chinese Ministry of Commerce.
In response to a question from CNBC on China's response and the impact of these additional tariffs, Mr. Gao said: "We have repeatedly explained that tariffs are not a means of solve the problem". He pointed out that such tariffs would have negative effects on US companies and the global economy and did not comment on the direct impact of duties on the Chinese economy.
Gao acknowledged in a report released at Thursday's press conference that, in light of the demotion of international organizations on world trade, unilateralism and protectionism, Chinese exports were under downward pressure.
Beijing remained relatively reserved in its response to the latest threats on Trump's tariffs, including the president's comment Thursday morning in Beijing, when China broke the deal. On Wednesday, Reuters reported, citing sources quoted above, that the Chinese side had taken up all the points on which the negotiators had agreed so far.
The Ministry of Commerce has issued no statement on countermeasures until late at night on Wednesday, about three days after Trump's tweets.
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