US 'opening fire' on the world with tariff threats, says China

The United States is "opening fire" on the world with its frightened tariffs, China warned on Thursday, saying it will respond to the moment US measures go into effect in the two countries locked in a bitter trade dispute.

The Trump Administration's tariffs on $ 34 billion of Chinese imports are due to go into effect at 0401 GMT on Friday, which is just after midday in Beijing.

US President Donald Trump has been attacked by the United States over $ 450 billion worth of Chinese goods. China retaliates, with the row of markets and stocks, currencies and the global trade of commodities from soybeans to coal

China has said it would not be "fire the first shot", but it was said that it would have had the effect Trade Ministry spokesman Gao Feng warned the proposed US tariffs would hit international supply chains, including foreign companies in the world's second-largest economy.

"If the US implements tariffs, they will actually be adding tariffs to companies from all countries, including Chinese and US companies, "Gao said.

" US measures are essentially attacking global supply and value chains.

"China will not bow down in the face of threats and blackmail and will not falter from its determination to defend the multilateral trading system."

Asked Whether US companies would be targeted with "qualitative measures" in China, Gao said the government would protect the legal rights of all countries in the world.

"We will continue to assess the potential impact of the US "

Gao said China's foreign trade is expected to continue on a stable path in the second half of the year, though investors fear a full-blown Sino-US

Foreign companies accounted for $ 20 trillion, or 59 percent, of the $ 34 trillion exports from China, with US firms accounting for A significant portion of that 59 percent, Gao said.

China's plans to impose tariffs on the US market, including soybeans, sorghum and cotton, threatening US farmers in the US Trump, such as Texas Iowa.

Chinese buying of soybeans is a prerequisite, but it does not matter what the duties are, and the country is top-selling meat. 19659002] In the latest sign that the risk of penalties is hitting trade, a vessel carrying US coal and heading for China was diverted on Wednesday to Singapore.