Beiijing has a message for American investors: It's not afraid of a trade war with the United States.
On Monday in Beijing, Zhang Qingli, a leading member of a Chinese committee tasked with forging alliances with other nations, told a small group of U.S. business leaders that China refuses to be intimidated by an ongoing trade war with the Trump administration.
"China never wants a trade war with anybody, not to mention the U.S., who has been a long-term strategic partner, but we also do not fear such a war," Zhang said through a translator.
He also accused President Donald Trump's administration of going forward with tariffs even after making progress in trade talks.
Zhang's harsh words echoed China's earlier statements about trade tensions with Washington. For the executives in the room on Monday, however, it seemed to indicate there's no end in sight for the ongoing struggle between the two nations — and that the Chinese are taking a more tempered approach.
Zhang's strong words come just a month after Trump imposed $200 billion on Chinese imports on top of the $50 billion levy the administration piled onto the country earlier this year. The new trade barrier went into effect in September at a 10% rate and is expected to climb to 25% in 2019.
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