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Trade War - China Says Ready to Defend its Interests in U.S. Trade Spat

By Ryan Woo and Hallie Gu

BEIJING, March 24 (Reuters) - The United States has flouted trade rules with an inquiry into intellectual property and China will defend its interests, Vice Premier Liu He told U.S. Treasury Secretary Steven Mnuchin in a telephone call on Saturday, Chinese state media reported.

The call between Mnuchin and Liu, a confidante of President Xi Jinping, was the highest-level contact between the two governments since U.S. President Donald Trump announced plans for tariffs on up to $60 billion of Chinese goods on Thursday.

The escalating tension sent shivers through financial markets as investors foresaw dire consequences for the global economy if trade barriers start going up.

In the call with Mnuchin, Liu, a Harvard-trained economist, said China still hoped both sides would remain "rational" and jointly work together to keep trade relations stable, the
Trade War - China Says Ready to Defend its Interests in U.S. Trade Spat

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