'Ready to fight': China responds to Trump's tariff charge
What's the story
China has given a strong reply to United States President Donald Trump's decision to raise tariffs on Chinese imports.
The Chinese embassy in the US said if America wants a "tariff war, a trade war or any other type of war," China is prepared to "fight till the end."
In his Congress address on Tuesday, Trump said other countries have used tariffs against the US for decades, adding now it's the US's turn.
Statement
China's average tariff on our products 2 times more: Trump
"On average, the European Union, China, Brazil, India, Mexico and Canada. Have you heard of them? And countless other nations charge us tremendously higher tariffs than we charge them...India charges us auto tariffs higher than 100%. China's average tariff on our products is twice what we charge them," Trump said.
"And South Korea's average tariff is four times higher. This system is not fair to the United States and never was...Whatever they tax us, we will tax them," he said.
WTO complaint
China files complaint with WTO over US tariff hikes
In retaliation to Trump's tariff hikes, China has complained to the World Trade Organization (WTO).
The Asian giant argues these unilateral tax measures by the US violate WTO rules and hurt China-US economic relations.
Beijing's commerce ministry emphasized these actions hurt bilateral cooperation.
Separately, the Chinese Foreign Ministry accused America of using its ongoing fentanyl crisis as a pretext for raising tariffs, saying intimidation tactics won't work against China.
Retaliatory measures
China imposes retaliatory tariffs on US agricultural products
In a quick response, China this week slapped 10%-15% tariffs on American agricultural products, including wheat, corn, and cotton.
Further, citing security concerns, China's Ministry of Commerce has barred 25 American companies from exporting and investing in the country.
Chinese Foreign Ministry spokesperson Lin Jian reiterated China's position against pressure tactics from Washington, adding these countermeasures are legitimate responses aimed at defending its rights and interests.
Strategic targeting
China sets its GDP target for 2025
China has set its GDP target for 2025 at "around 5%."
Premier Li Qiang revealed the growth objective in the annual government work report, which also outlined aims to stabilize economic development by boosting domestic demand and creating 12 million new urban employment.
Furthermore, China's defense budget would increase by 7.2 percent in 2025, the same as last year.
Beijing's defense budget for 2025 is 1.78 trillion yuan ($245.7 billion), which is still less than one-third of Washington's.