China says US dragging entire global economy into place of danger

Beijing: China has once again censured the United States for its trade policies, saying Washington would be to blame for a chaotic global economy if it sticks with its “willful” decisions on trade.

China’s Foreign Ministry spokeswoman Hua Chunying said Wednesday that the US was killing confidence in global economy by slapping tariffs on imports from allies and rivals.

“The US trade war is not just with China but with the rest of the world. By regarding the rest of the world as adversaries, the US has dragged the entire global economy into a place of danger,” Hua said, adding that the US-driven trade war was the biggest “confidence killer” for global economy.

China and the US have imposed tariffs worth $34 billion on each other’s imports. US President Donald Trump, who initiated trade disputes by announcing controversial tariffs on the import of metals in March, has threatened that he would introduce further duties on Chinese imports if Beijing continues with its retaliatory measures.

Hua, however, repeated previous statements that China was fully ready to respond to any new US tariff, saying if Washington continued to be “willful,” China and other countries affected by the trade policy would not hesitate to react.

“If the US continues to be willful, countries around the world will only harden their resolve to hit back,” said the Chinese official.

Experts have warned that tensions in global trade could seriously undermine economic growth across the world especially now that prices in the oil market are regaining.

Both China and the European Union have revised their growth estimates in light of the increasing trade tension with the United States. The European Commission, the EU’s executive arm, cut its growth forecasts last week, saying a main cause was increasing barriers in trade with the US. China is also facing challenges to its growth outlook with official data released Monday showing the world’s second-biggest economy grew at a slower pace in the second quarter of this year.

AlamulKhabar Business