Ministry: US tariffs set to backfire

The threatened tariffs on goods from China will backfire on the United States if they take effect on July 6, the Chinese Ministry of Commerce said on Thursday.

Ministry spokesman Gao Feng said about 59 percent of the $34 billion imports subject to US tariffs are produced by foreign-invested enterprises in China.

“If the list takes effect, the US will actually impose tariffs on both Chinese and foreign companies, including US ones,” Gao said. “The US is firing at not only the world, but also itself.”

Gao reiterated China is not eager to engage in a trade war, but will do so to firmly defend the interests of the country and its people.

The General Administration of Customs said on the same day China will levy tariffs on US goods, as soon as US' tariffs are in force.