China will not fire the first shot in implementing tariffs on the United States, the Customs Tariff Commission of the China’s State Council announced on Wednesday.
“The Chinese government has reiterated its stance that it will not fire the first shot and will not preempt the United States’ move of imposing additional tariffs,” it said in a statement on the website of China’s Finance Ministry.
Washington has said it would implement tariffs on $34 billion of Chinese imports on July 6, and Beijing has vowed to retaliate in kind on the same day.
Earlier, Chinese Foreign Ministry spokesman Lu Kang said China was ready to act, though he did not confirm the start date for Chinese tariffs.
“China has already made preparations,” Lu told a daily news briefing.
“As long as the United States issues a so-called tariff list, China will take necessary measures to firmly protect its legitimate interests,” he added.
China’s yuan rose sharply against the dollar on Wednesday, a day after the central bank the People’s Bank of China assured markets it would keep the currency stable amid growing worries about trade friction, although stocks fell.
Story from CGTN with input from Reuters.