July 6, 2018

The trade war between China and the US began on July 6. China announced that its countermeasures against US protectionist tariffs took effect at noon. The Ministry of Commerce stressed in a statement that China will unswervingly expand reform and opening-up, protect entrepreneurship and intellectual property rights, and create a sound business environment for foreign companies in China.

Chinese society is outraged by the US-initiated trade war, and the majority supports the government's firm counterstrike. The official announcement ordering further reform and opening-up shows how calm and firm the country is.

The initial $50 billion of products at the center of the trade war may not be a large sum for the US or Chinese economy. But it has symbolic meaning. It will affect how Chinese and American societies view bilateral relations and will add to strategic mistrust.

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http://www.globaltimes.cn/content/1109768.shtml