China slams U.S. tariffs, says its economy is resilient but there are no winners in a trade war

China's commerce minister vows resilience against U.S. tariffs, emphasizing the importance of dialogue and mutual respect in trade relations.

China will not yield to bullying, and its economy can weather higher tariffs imposed by U.S. President Donald Trump and other challenges, the Chinese commerce minister said Thursday, though he added that there are “no winners in a trade war."

Speaking on the sidelines of the annual session of China's national congress, Wang Wentao reiterated Beijing's calls for talks. Coercion and threats are bound to fail, he said, noting that China’s role as a main trading partner of 140 nations means it has plenty of options. Wang and other officials outlined Beijing's strategies for building its economy and financial markets, but did not announce any major new initiatives.

The Trump administration has raised tariffs on imports from China twice since taking office in January. China has hit back with duties and other restrictions on American goods and companies. Mr. Wang said China expects mutual respect in its dealings with other countries.

Also Read | China eyeing U.S. farm exports for retaliation, report says, as importers rush to beat tariffs

“Coercion and threats will not work on China, nor will they scare China. China’s determination to defend its own interests is unswerving," Mr. Wang said, adding that “there are no winners in a trade war.”

“If the American side goes further down this wrong path, we will continue to respond in kind,” he said. ”We will fight to the end.”

Still, he stressed that China is open to resolving differences over trade. “Our two sides can meet at an appropriate time and our teams can also have communication as early as possible,” he said.