China calls U.S. decision to introduce restrictive trade measures “wicked precedent’’

The U.S. decision to introduce restrictive trade measures against China is a “wicked precedent’’ which contradicts the interests of both sides and presents a clear example of unilateral protectionism, the Chinese Commerce Ministry said on Friday.

On Thursday, U.S. President Donald Trump signed an order imposing higher tariffs on Chinese imports to the U.S. to counter what the U.S. leader characterised as Chinese trade aggression.

In addition, the U.S. is filing a lawsuit with the World Trade Organisation over China’s licensing practices.

“The U.S. actions correspond to neither Chinese nor to U.S. interests, nor the interests of the world, and are a wicked precedent.

“Anyway, the Chinese side will not simply watch how its legitimate interests are being harmed and we are fully prepared to defend our interests,” the statement read.

The commerce ministry and foreign ministry stressed that China did not want a trade war with the U.S., and hoped that Washington would review its decision.

“China has repeatedly said that it did not want to take part in trade wars, but it is also not afraid of them. We have enough confidence and options to respond to any challenge.

“We hope that the U.S. will take a balanced decision, which will not put bilateral trade relations in a dangerous position,” Chinese Foreign Ministry Spokeswoman, Hua Chunying, said at a briefing.

Earlier in March, Trump announced his decision to impose a 25 per cent tax on imported steel and 10 per cent duties on imported aluminum.

The measures took effect on Friday. Washington’s major trade partners apart from China, particularly Canada and the EU, have criticised the tariffs and pledged to impose countermeasures.

On Thursday, Trump authorised exemptions from new metal tariffs for the EU, Mexico, Canada, Argentina, Australia, Brazil, and South Korea until May.