China claims no cause to panic as trade war tensions escalate

China’s top diplomat, Wang Yi, said the escalating tensions between Beijing and Washington were “no cause to panic”.

He also warned China will remain defiant to Washington’s attempts to pressure China on trade.

US President Donald Trump accused China of attempting to interfere with the upcoming November 6 midterm elections due to his trade policies with China.

Mr Trump repeated the claims on twitter, accusing China of placing propaganda in local US newspapers.

“China is actually placing propaganda ads in the Des Moines Register and other papers, made to look like news,” Mr Trump wrote on Twitter

“That’s because we are beating them on Trade, opening markets, and the farmers will make a fortune when this is over!”

Mr Wang denied the accusations, and in a later address to the UN General Assembly, accused Mr Trump of unilateral action that will damage everyone.

“Protectionism will only hurt oneself, and unilateral moves will bring damage to all,” Mr Wang said.

“Regarding trade frictions, China stands for a proper settlement based on rules and consensus through dialogue and consultation on an equal footing,”

“China will not be blackmailed or yield to pressure.”

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