Chinese state media said over the weekend that the country is calm and rational amid an escalating trade war with the United States and that its countermeasures to U.S. tariffs were ‘restrained’.
The Chinese editorials come after the country announced Friday it was preparing to retaliate in the trade war with new tariffs on about $60 billion worth of U.S. goods.
“China’s countermeasures are rational, and the emphasis can be found in their quantitative and qualitative aspects,” said the Global Times newspaper, known to be linked to the Chinese government.
According to the Chinese Ministry of Commerce, the import taxes announced by Beijing would range from 5 to 25 percent. The majority of goods are agricultural-related.
“China’s recent counter-response is a restrained one, and the country is reserving the right and its ability to announce more against the U.S. China’s countermeasures aim to minimize the detrimental impact on domestic production and living standards,” the Global Times noted. “China is balancing short-term gain with long-term interests, risk versus opportunity, along with core and marginal interests.”
The newspaper also maintained that the countermeasures were a product of public opinion and a thorough evaluation of possible impacts. “Public welfare, domestic business stamina, maintenance of the global industrial chain, and other factors were considered when deciding each countermeasure,” the Global Times wrote.
However, Chinese state media also pointed out that the official position was that trade disputes should be resolved through discussions.
“China has long insisted that trade disputes should be settled through talks and a trade war is naturally the last thing it wants,” Communist Party-owned China Daily said on Sunday, adding that Beijing must retain its sober-mindedness in the face of the Trump administration’s “bullying” and decide rationally how to respond to its unreasonable actions.