China vows retaliation for new Trump tariffs

China is vowing retaliation for new U.S. tariffs imposed by President Trump on $200 billion in Chinese goods.

“China has always emphasized that the only correct way to resolve the China-U.S. trade issue is via talks and consultations held on an equal, sincere and mutually respectful basis,” Foreign Ministry spokesman Geng Shuang told reporters, according to Reuters. “But at this time, everything the United States [does] does not give the impression of sincerity or goodwill.”

{mosads}He reportedly declined to give specifics, but said China is strategizing over how it will retaliate after Trump on Monday slapped 10 percent tariffs on about $200 billion worth of imports.

Trump also threatened to impose tariffs on $267 billion in Chinese goods if Beijing retaliates.

China and the U.S. have already imposed tariffs of $50 billion on each other’s products. China so far has imposed or proposed tariffs on $110 billion of U.S. goods, which accounts for nearly all of its American imports, Reuters reported.

Officials are concerned that China could retaliate using measures other than tariffs now, according to the news service.

The South China Morning Post on Tuesday reported that Beijing might send a delegation to Washington to engage in talks with officials, Reuters noted. 

A senior Trump administration official said the U.S. is open to talks, the news service reported.

“This is not an effort to constrain China, but this is an effort to work with China and say, ‘It’s time you address these unfair trade practices that we’ve identified, that others have identified and that have harmed the entire trading system,’” the official reportedly said.

Commerce Secretary Wilbur Ross told CNBC that the issue of talks is in China’s “ballpark.”

“Our purpose is to have constructive negotiations with the Chinese to resolve the fundamental issues,” Ross told CNBC. “So the question about whether or when to have a discussion is very importantly in their ballpark.”