(Yicai Global) April 3 -- China will respond to US tariffs with equal measure, said its ambassador to the US. Referring to the Trump administration's decision to impose tariffs on up to USD60 billion worth of Chinese products, Ambassador Cui Tiankai’s remarks were the first indication that China will respond to additional US trade measures with the same proportion, scale and intensity.
“If they do [impose additional tariffs], we will certainly take counter measures of the same proportion and of the same scale, same intensity,” Cui said in an interview with China’s Central Television’s English news channel today.
China suspended tariff concessions on seven categories of imported products originating in the US, which involve a total of 128 US products in a move that follows recent US tariffs on Chinese steel and aluminum products. It affects USD3 billion worth of food imports from the world's largest economy. However, the Trump administration also announced additional tariffs on up to USD60 million imports from China, claiming intellectual property theft, among others.
The US accusations of Chinese intellectual property theft and forced technology transfer are totally groundless, said Ambassador Cui on a different occasion yesterday, adding Chinese laws protect intellectual property, and none of the laws or regulations forces the technology transfer from foreign enterprises. “We are ready to look at specific cases if there is any violation of intellectual property rights," he said.
“We are ready to deal with these issues in accordance with our own laws, and we are ready for international cooperation in this area … This is the shared responsibility of all governments. Where any enterprise believes that its intellectual property is infringed, it shall provide us with concrete evidence and appeal to Chinese laws for help. We are more than willing to offer any assistance. Wild accusations without solid evidence will never work," added Cui.