China will ’emerge stronger’ from tariff war, Beijing newspaper says

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Chinese President Xi Jinping.

The world’s second-largest economy will “outlast” its ongoing tariff war with Washington and “emerge stronger,” the state-controlled China Daily warned in a Tuesday editorial.

“Underestimating China’s resolve to safeguard its legitimate interests, the United States will find its protectionist measures backfiring to harm its own industries and the American people,” the Beijing-based newspaper stated.

Beijing on Tuesday announced retaliatory duties on $60 billion worth of American goods following President Donald Trump’s latest trade action. On Monday night, the U.S. leader unveiled a 10 percent tariff on $200 billion worth of Chinese imports that will go into effect next week and eventually rise to 25 percent by year-end.

“If the US really wants to end the trade conflict, it should show more sincerity and adopt a down-to-earth, problem-solving approach,” the English-language media outlet said. “The trade conflict will not force China to succumb to US pressure,” it continued.

Read the full editorial on China Daily.

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Article source: https://www.cnbc.com/2018/09/19/china-will-emerge-stronger-from-tariff-war-beijing-newspaper-says.html

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