BEIJING, China (AFP) — China and the United States can resolve any trade disputes through talks, the government said on Thursday (January 19), as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump.
Trump, who is sworn into office on Friday (January 20), has criticised China’s trade practices and threatened to impose punitive tariffs on Chinese imports.
Billionaire investor Wilbur Ross, Trump’s choice for commerce secretary, voiced sharp criticism of China’s trade practices on Wednesday (January 18), telling senators he would seek new ways of combating them.
Chinese Commerce Ministry spokesman Sun Jiwen said the government was willing to work with the new U.S. administration to promote the healthy development of commercial ties.
“I believe China and the United States can properly deal with any issues and any disputes of bilateral economic and trade relationship through dialogue and cooperation. We are willing to work together with U.S. new government to continue to push forward a stable and healthy development of economic and trade relationship between China and U.S,” Sun told reporters.
But an influential state-run newspaper took a harsher line.
In an editorial, the Global Times said that as the United States has the stronger economy, China may suffer more once a trade war starts, but China “will take the U.S. on to the end”.
“There are few cases in modern history where only one party surrendered in a trade war; rather, the two parties ended up compromising with each other. How could Trump’s team believe China would surrender without any countermeasures?” it said.
“The arrogant Trump team has underestimated China’s ability to retaliate. China is a major buyer of American cotton, wheat, beans and Boeing aircraft,” the paper added in the editorial carried in its Chinese and English-language editions, without elaborating.
Boeing Co’s China office declined to comment.
Boeing anticipates China will need 6,800 new jetliners worth $1 trillion over the next 20 years.
In October, Boeing and Chinese planemaker Commercial Aircraft Corp of China Ltd (COMAC) signed an agreement to open a Boeing 737 completion facility in the Chinese coastal city of Zhoushan.
