CHINA is firmly opposed to the U.S. announcement that it will further raise the tariffs on about US$550 billion worth of Chinese imports, said a spokesperson of the Ministry of Commerce (MOC) on Saturday.

“Such unilateral and bullying acts of trade protectionism and extreme pressure run counter to the consensus of the heads of state of China and the United States, and run counter to the principles of mutual respect, equality and mutual benefit,” the spokesperson said.

The U.S. announcement will seriously damage the multilateral trading system and the normal order of international trade, the spokesperson said, warning the U.S. side is bound to bear the consequences of its own actions.

“China strongly urges the United States not to misjudge the situation, or underestimate the determination of the Chinese people. It must immediately stop its erroneous practices, or bear all the consequences,” the spokesperson said.

U.S. President Donald Trump tweeted Friday that the U.S. will raise existing duties on US$250 billion worth of Chinese products from 25 percent to 30 percent beginning Oct. 1, and another US$300 billion will see tariffs rise from 10 percent to 15 percent Sept. 1.

China announced Friday it will impose additional tariffs on U.S. imports worth about US$75 billion in response to a U.S. announcement in August on tariff hikes on Chinese goods.

Based on laws and approved by the State Council, a total of 5,078 U.S. products will be subject to additional tariffs of 10 percent or 5 percent.

The tariff hikes will be implemented in two batches and take effect Sept. 1 and Dec. 15, respectively, the Customs Tariff Commission of the State Council said in a statement.

The U.S. Government announced Aug. 15 that it will impose additional tariffs of 10 percent on Chinese goods worth about US$300 billion, effective Sept. 1 and Dec. 15, respectively, in two batches.

China’s imposition of additional tariffs is a forced response to U.S. unilateralism and trade protectionism, the statement said.

According to a separate announcement made by the commission Friday, China will resume imposing additional tariffs of 25 percent or 5 percent on American-made vehicles and auto parts starting Dec. 15.

An exemption from the additional tariffs on U.S.-made vehicles and auto parts could be applied for, and detailed policies will be released separately, the commission said.

Trade deals and the reform of WTO are better than trade wars, and trade wars will lead to recession, while trade deals will boost economy, said Donald Tusk, president of the European Council, on Saturday. He called for putting a stop to trade wars.

Besides China, the U.S. is currently at loggerheads with many countries, including the G7 alliance, from trade to security. Threatening Germany with car tariffs, Trump vowed to tax French wines if Paris levies a digital tax on big U.S. technology companies; Casting Canada as a trade villain who “robs U.S. blindly,” he also sniffed at the European integration by encouraging Brexit with a “great trade deal” with London. Withdrawal from the Paris climate accord and the Intermediate-Range Nuclear Forces Treaty, he even showed his willingness to pull out some American forces in Germany unless Berlin increases defense spending to the 2-percent GDP threshold.(Xinhua)