Wang's comments reportedly followed face-to-face talks with Secretary of State Mike Pompeo, where Wang urged Pompeo to choose a path of “cooperation and mutual benefit.” Pompeo was in Beijing to brief Chinese officials on the North Korea summit.
On Thursday, Chinese Foreign Minister Wang Yi said China and the US faced a choice between cooperation and mutual benefit on the one side and confrontation and mutual loss on the other.
“China chooses the first,” Mr Wang told a joint news conference, after talks with US Secretary of State Mike Pompeo in Beijing.
“Of course, we have also made preparations to respond to the second kind of choice.” Meanwhile, Bloomberg reports that Mei Xinyu, a researcher at Chinese Academy of International Trade and Economic Cooperation, part of China's Ministry of Commerce, expects China to adopt retaliatory tariffs on US goods “immediately.” While the official breakdown of Trump's tariffs won't be released until tomorrow, a CNBC source noted that Trump has already signed off on the tariffs, and that a list of talking points has been distributed to 10 government agencies, while a list of products has been uploaded to a government database.
As we noted earlier, one factor that could sway Trump's thinking on tariffs would be an aggressive response from China.