CHINA yesterday lashed out at U.S. “economic intimidation” following President Donald Trump’s announcement of new import tariffs, but said it was open to negotiations to resolve trade frictions.

Trump said last Thursday that the United States would impose new tariffs on some US$60 billion of Chinese imports over the “theft” of intellectual property, rattling global financial markets.

Vice President Mike Pence boasted the measures mean that the “era of economic surrender is over.”

Asked about the remarks, Chinese Foreign Ministry spokeswoman Hua Chunying told a press briefing yesterday that “it would have been more appropriate to say that it’s time to stop the U.S. economic intimidation and hegemony.”

On Friday, China unveiled a list of US$3 billion worth of U.S. goods, including pork, fruits and wine, that could be targeted — if negotiations fail.

“We also have the confidence and the capacity to safeguard our legitimate and legal interests, whatever the circumstances,” Hua said. “Now the ball is in the U.S. court.”

When asked about a report by the Wall Street Journal yesterday that Mnuchin was considering a visit to Beijing to pursue negotiations, Hua said: “We keep saying that the Chinese side is willing to negotiate with the U.S. to properly manage divergences, on the basis of mutual respect and equal mutual benefits.”

“Our door is always wide open to dialogue and consultation.”

Speaking on “Fox News Sunday,” U.S. Treasury Secretary Steve Mnuchin said “we’re working on a pathway to see if we can reach an agreement as to what fair trade is for them,” according to Bloomberg.

“I am cautiously hopeful we reach an agreement, but if not we are proceeding with these tariffs,” Mnuchin said.

Chinese Vice Premier Liu He told Mnuchin on Saturday that China was “ready to defend its national interests,” but both “agreed to continue to communicate.”

China is not the only country facing Trump’s ire over trade.

Trump on Thursday authorized the suspension of the controversial tariffs on steel and aluminium imports from key trade partners including the European Union, Argentina, Australia, Brazil, Canada, Mexico and South Korea — but only until May 1.

Seoul said yesterday that it has agreed to concessions with the United States to escape the steel duties and to secure a revised trade deal that Trump has repeatedly threatened to tear up.

(SD-Agencies)