PROTECTIONISM is a double-edged sword that will harm both sides, China’s foreign ministry said Wednesday after U.S. President Donald Trump signed into law a steep tariff on imported solar panels.

The tariff of 30 percent is among the first unilateral trade curbs imposed as part of a protectionist agenda to help U.S. manufacturers, but which has alarmed Asian trading partners that produce lower cost goods. The administration also put a tariff on imported washing machines.

China, the world’s biggest solar panel producer, has branded the move an “overreaction.”

“Protectionism is a double-edged sword. It not only wounds others but wounds themselves,” foreign ministry spokeswoman Hua Chunying said.

But China is confident in its own economy, which this year will see the scale of domestic consumption overtake the United States for the first time, she said, citing comments by Foreign Minister Wang Yi in Chile on Tuesday.

“This means that after 2018, the world’s biggest market will be China,” Hua said, adding that the market had been developed by the sweat on people’s backs rather than having been snatched away from anyone.

China has not specified how it will respond to the new U.S. tariffs, beyond saying it will defend its legitimate interests.

There are many countermeasures China could take, the Global Times newspaper, published by the People’s Daily, said in an editorial Wednesday.

These could include not buying beef from the United States, not sending Chinese there to study and not buying U.S. cars, the widely read paper said.

“Despite everything mentioned here, it would be easier for China to sell some of its U.S. treasury bonds, if necessary,” it added. “The combined results on the U.S. economy would certainly not add any points to Washington’s ruling party.” (SD-Agencies)