In face of trade tensions increasingly stirred up by the United States, China has ample trade weapons loaded to return fire and protect its own interests whenever necessary, officials and economists have said. Tension between the worlds two largest economies reached a new height after the U.S. side threatened additional duties on Chinese goods worth 100 billion U.S. dollars. China, hours later, said it will "fight till the end at any cost" and take "comprehensive countermeasures."
This has been the third round of trade fire exchange between the two economic giants, all of which were initiated by the U.S. side. In the first two rounds, the United States slapped tariff on steel and aluminum imports from countries including China, as well as additional tariffs on Chinese imports worth 50 billion U.S. dollars, to which China responded firmly with tariff plans of equal weight.
In the previous trade fire exchange, U.S. products such as soybeans, automobiles, aircraft and chemical products have already been on the list of Chinas reciprocative tariff plan. U.S. soybeans sold to China account for 62 percent of its total soybean exports, with 32.85 million tonnes of soybeans exported to China in 2017, or 34.39 percent of Chinas total imports.