SHANGHAI (BLOOMBERG) - China has the strength and patience to withstand the trade war, and will fight to the end if the US administration persists with it, China's state-run People's Daily said in an editorial on Saturday (June 22).
The US must drop all tariffs imposed on China, if it wants to negotiate on trade, and only an equal dialogue can resolve the issue and lead to a win-win, the newspaper said.
The paper, a mouthpiece for China's ruling Communist Party, said the United States had failed to take into account the interests of its own people, and they are paying higher costs due to the trade dispute.
"Wielding a big stick of tariffs" also disregards the condition of the US economy and the international economic order, according to the editorial.
US President Donald Trump and Chinese President Xi Jinping will meet on the sidelines of the Group of 20 summit in Japan next week to discuss the trade war between their two countries.
Trump has repeatedly asserted that tariffs on Chinese imports are paid by China, not US consumers - in defiance of the consensus of economists.
If the US chooses to talk, "then it must show some good faith, take account of key concerns from both sides and cancel all tariffs", the paper said.