The Chinese government said it would continue to fight if the US applied more import tariffs.
This was stated by Chinese Finance Minister Liu Kun. According to him as quoted from the BBC, Friday (08/24/2018), China will respond to the 'unwarranted' US policy firmly.
On Thursday (08/23/2018) local time, the US implemented a second wave of import tariffs on products from China with a total value of 16 billion US dollars. China immediately responded.
Two-day trade talks between the US and China failed to produce progress. Trade tensions between the two countries currently make both apply 25 percent of import tariffs with a total value of 50 billion US dollars.
The US also threatened China with the third wave of import tariffs on goods from the Bamboo Curtain country with a total value of 200 billion US dollars. This policy is called to take effect next month.
US President Donald Trump also stated that his administration could apply import tariffs for all goods from China which amounted to 500 billion US dollars.
"China does not want to be involved in a trade war, but we will very firmly respond to the unwarranted policies of the US. If the US insists on that policy, we will take a response to protect our interests," Liu said.
He said, so far the impact of the trade war on China's economy has not been significant. However, government spending will increase to support workers affected by import tariffs.