UPDATED 7:34 AM PT — Thurs. July 5, 2018
A Chinese foreign ministry spokesman said China is prepared to take action against the U.S. if President Trump releases a proposed list of tariffs on Chinese goods this coming Friday.
“The Chinese side is well prepared, and as long as the United States releases the so-called proposed tariff list, we will take all necessary, comprehensive measures to resolutely safeguard our legitimate interests,” stated Chinese Spokesman Lu Kang.
Both countries threatened to levy tariffs this week, however, China said it would not be the first to impose the measures.
The president expressed plans to impose a 25-percent tariff on items from cars to smart home devices imported from China beginning July 6.
If China responds, the U.S. is prepared to extend those tariffs to $200 billion worth of Chinese goods.
Chinese stock fell Wednesday due to fears of a looming trade war.
Economist are concerned the escalating trade tensions could hurt growth and cost jobs between the world’s two largest economies.