China ready to pay 'any cost' in trade war: Ministry of Commerce

BEIJING: China said Friday (Apr 6) it was ready to pay "any cost" in a possible trade war with the US, after President Donald Trump warned he was considering US$100 billion in extra tariffs.

"If the US side disregards opposition from China and the international community and insists on carrying out unilateralism and trade protectionism, the Chinese side will take them on until the end at any cost," the Ministry of Commerce said in a statement on its website.

"We don't want a trade war, but we aren't afraid of fighting one."

Trump threatened an additional US$100 billion in tit-for-tat tariffs on Beijing Thursday, in the latest step in an escalating trade dispute.

The US president has said he will impose steep tariffs on steel and aluminum imports, which would hit China.

China responded with proposed tariffs on fresh fruit, pork and recycled aluminum, accounting for US$3 billion of US exports last year.

The US on Tuesday published a list of US$50 billion in Chinese imports set to be hit by US tariffs.

In a speech Thursday, Trump said "in light of China's unfair retaliation," he had instructed trade officials to "consider whether US$100 billion of additional tariffs would be appropriate".