China says it is ready for a trade war with the United States

BEIJING.- China says it is "quite ready" for a trade war with the United States if it starts on Friday, while hopes to reduce Tensions between the two economies fade The largest in the world.

Washington will begin imposing tariffs on Chinese imports worth $ 34 billion this Friday. Beijing has promised to retaliate equivalent to this amount.

Foreign Ministry spokesman Lu Kang said on Tuesday that China would be "fully willing to take a set of necessary measures" to defend its national interests.

In the United States, a series of companies, from whiskey distilleries to automobile plants could be affected by Chinese retaliation. The Beijing list is intended to reach the farmers and other US sectors that constitute the political base of President Donald Trump.

Trade frictions threaten large Chinese companies such as China Mobile . A Department of Commerce in Washington has recommended not licensing China's largest telecommunications company for national security reasons.

Lu called the warning "unfounded speculation and irrational restrictions" arising from a Cold War mentality, and expressed the hope that Washington would take steps "conducive to mutual trust".

The Chinese stock market has fallen nearly 10% in recent weeks in the face of fears of a trade war, and its currency has depreciated sharply against the dollar.

Central Bank Governor Yi Gang said on Friday that the 3% devaluation of the yuan reflected a strengthening of the dollar and that it was "a consequence of external uncertainties". The yuan, whose exchange rate is strictly controlled, is at its lowest level since December.