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Following the news of China planning to levy differentiated tariffs on $60 billion worth of  U.S. goods, Chinese Commerce Ministry said that China’s new tariffs on U.S. goods were rational and restrained and further added that the implementation of these new tariffs was subject to U.S. sanctions, as reported by Reuters.

Key quotes

  • China believes effective way to solve trade differences is through fair negotiation based on mutual respect.
  • Any unilateral threat or blackmail will only lead to an intensification of conflicts and damage to the interests of all parties.