China-US trade war would produce no winners, only catastrophe, Beijing says

China says trade war with US will only bring disaster

"Because no one is willing to start a trade war, and everyone knows trade wars hurt others without helping themselves", Zhong said.

The Trump administration earlier approved higher tariffs on Chinese-made washing machines, solar modules and some other goods, prompting Beijing to accuse Washington of disrupting global trade regulation by taking action under US law instead of through the World Trade Organization.

Any trade war with the United States will only bring disaster to the world economy, Chinese Commerce Minister Zhong Shan said on Sunday, as Beijing stepped up its criticism on proposed metals tariffs by Washington amid fears it could shatter global growth.

Zhong said at a briefing during a meeting of China's ceremonial legislature that the USA has been overstating its trade deficit with China by about 20 percent every year.

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China will provide support for participants and exempt least-developed countries from the exhibition fee, he said.

Zhong said the two countries have different demands in opening up markets in financial, telecom, automobile, produce and other sectors due to different national conditions.

After pressure from allies, the United States has opened the way for more exemptions from tariffs of 25% on steel imports and 10% on aluminum that US President Donald Trump set last week.

China can handle any challenges and will resolutely protect its interests, but the two countries will continue to talk, he said.

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Besides commercial exhibition for enterprises, China has also plans to invite 60 countries to showcase their national image at the expo.

Last year, the USA posted a $375 billion (€304 billion) deficit with China.

Trade tensions between China and United States have risen since Trump took office. The figure for February fell slightly from the previous month to US$21 billion, according to the latest data from the customs administration. But China's commerce minister Zhong said the Trump administration was overstating the US trade deficit with China by about 20 percent annually. If it allowed its firms to freely sell such goods, the surplus would fall by 35 per cent, he said, without providing a source.

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