Imposing List 4 Tariffs Would Set ‘New Obstacles’ in Trade Talks, Says China   

China believes trade “frictions” with the U.S. “should be resolved through dialogue and consultation,” said a Foreign Affairs Ministry spokesperson Wednesday. He was asked about President Donald Trump’s remarks at a cabinet meeting Tuesday that the U.S. has a “long way to go” before reaching a trade deal with China and can still impose the threatened List 4 Section 301 tariffs on $325 billion worth of Chinese goods “if we want.” If the U.S. “thinks there is still a long way to go before a deal is concluded, well, as the Chinese saying goes, a journey of a thousand miles begins with a single step,” said the spokesperson. “No matter how long the way is, as long as you step forward, you will eventually reach the destination.” Amid the U.S. threat to impose the List 4 duties, “China will firmly defend its own interests,” said the spokesperson. “If the U.S. does impose new tariffs, that will indeed set new obstacles for the trade talks. There will be an even longer way to go before reaching a deal.” The U.S. tech industry paid $1.3 billion in tariffs on Chinese goods in May, more than six times more than it paid in May 2018, despite a 31 percent decline in imports, said CTA Wednesday. Though the Trump administration delayed enacting List 4, "U.S. workers, families and businesses are still paying billions of dollars more than they otherwise would," said CTA President Gary Shapiro. "The economic pain for everyday Americans and our companies will only grow, since tariffs have more than doubled on the largest list of products."