The EU "opens fire" against the global economy with the trade war, according to China

The United States "fires" against the world with its tariff threat, warned Thursday the Chinese government saying that Beijing will respond at the same time as the US measures come into force. force, in an escalation of its commercial war .

Washington's tariffs on Chinese imports for the value of 3 $ 4 billion will begin to be valid at 00:01 local time on the east coast of the United States (23:01 hours , Mexico City time), just after midday in the Beijing time zone.

The President of the United States, Donald Trump threatened to escalate the trade dispute with tariffs of up to $ 450 billion on Chinese products if Beijing retaliated.

Pulse shakes financial markets including stocks, currencies and world trade in commodities, from soya beans to coal.

China has assured that "we will not fire the first shot", but its customs agency said in a short statement Thursday that the privileges on US goods will come into effect immediately after [en vigueur] of Washington.

During his weekly appearance before the press, the spokesman of the Chinese Ministry of Commerce, Gao Feng warned that Washington's proposed tariffs would affect global supply chains, including including foreign companies. in the second largest economy in the world.

"If the United States applies its tariffs, they will add tariffs to all countries, including China and the United States," he said.

"US measures essentially attack global supply and value chains – to put it simply, the United States fires at everyone, even against itself", he added.

"China will not give in to threats and blackmail and will not abandon its determination to defend free trade and the multilateral system".

Asked whether US companies will be subject to "qualitative measures" in China in the context of a trade war, Gao explained that the government will protect the legal rights of all foreign companies in the country.

"We will continue to evaluate the potential impact of the US-led trade war on companies and help them mitigate the potential impacts," he said.

Gao said China's foreign trade is expected to continue at a brisk pace in the second half, although investors fear that a total dispute between the two countries will hurt exports and the Economics of . Asian giant.

Foreign companies total $ 20 billion, or 59% of the $ 34 billion of China's exports that will be taxed by the United States as of Friday, with US firms accounting for a significant portion of that. percentage. , according to Gao.

The World Trade Organization warned on Wednesday that trade barriers imposed by the world's major economies could jeopardize the global economic recovery and that its effects are already beginning to be felt.

European officials told Reuters that China was pushing the European Union to issue a strong joint statement against Trump's trade policy, but for the moment insisted not to take sides.