While addressing a press conference, Chinese Minister of Commerce Zhong Shan said, "China, which produces half the world's steel, will assess any damage caused by the US move and firmly defend its legitimate rights and interests".
In 2017, trade volume between China and countries along the Belt and Road amounted to 7.4 trillion yuan (about 1.2 trillion USA dollars), surging 17.8 percent year on year, outpacing the 14.2-percent increase in China's total foreign trade last year, according to data released by the National Bureau of Statistics on February 28.
Mr Zhong, speaking on the sidelines of China's annual session of Parliament, said China does not want a trade war and will not initiate one.
Zhong said nobody wants to fight a trade war, but he added that China can handle any challenge and will resolutely protect its interests.
The U.S. control of high-tech exports to China also contributed to bilateral trade imbalance, Zhong said, quoting one U.S. research that estimated a 35-percent fall in the trade deficit with China if the United States relaxed export restrictions.
"A trade war will be catastrophic for China, the United States, and the rest of the world", he said.
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Holzman was attending a post-judgement hearing in Friday when she suddenly collapsed and was pronounced dead at the scene. United States media declared that a nun involved in a property case with singer Katy Perry has died amid court hearing.
Woods closes within 1 shot of rookie Conners
Woods finds himself tied for the lead after 10 holes in the third round Saturday with a tremendous minus-8 showing. This will be the 70th time Tiger Woods is at/within 1 of the lead after 54 holes on the PGA Tour .
'Let them call you racists,' Bannon tells far-right French party
He praised Le Pen's vision of a political spectrum that is no longer left- right but nationalists versus globalists. All eyes instantly turned to her glamorous niece, 28-year-old former MP Marion Marechal-Le Pen.
The United States and China are scheduled to hold trade talks in Beijing in the near future.
US officials have said such sales would make up only a few percent of the deficit while possibly threatening American national security.
Fears of a trade war between the world's No. 1 and No. 2 economies heightened last week after US President Donald Trump signed an order imposing a 25 per cent tariff on imported steel, and 10 per cent on imported aluminium.
The US trade shortfall in goods with China surged 8.1 percent during the first year of Trump's presidency, reaching a record $375 billion, according to Commerce Department data released last month. The country has always been among the top global destinations for investment, but foreign enthusiasm is cooling. "The fact that they have complaints indicates that they are still paying attention to China's development and have confidence in China's market".
More than 150,000 buyers from home and overseas are expected at the event, he said.