China says it does not want a trade war with US

Good. A trade war would be bad for both the China and the US (and the rest of the world).

(From CNBC)

“China does not want to fight a trade war with the United States, but we absolutely will not sit by and watch as China’s interests are damaged,” Zhang, who is a spokesman for parliament and was formerly an ambassador to the United States, said.

“If policies are made on the basis of mistaken judgements or assumptions, it will damage bilateral relations and bring about consequences that neither country wants to see,” he said.

Trump believes the tariffs will safeguard American jobs, but many economists say the impact of price increases for users of steel and aluminium, such as the auto and oil industries, will destroy more jobs than curbs on imports create.

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