"If the United States acts arbitrarily, China will have to take countermeasures", he said. "So I'm taking on China".
President Trump on Wednesday proclaimed that he was the "chosen one" to end China's unfair trade practices - and again blamed his predecessors for not dealing with the issue during their own time in office.
"Whether it's good or bad short term is irrelevant", he said.
The tariff measures will damage the interests of both China and the United States, and may also have a recessionary impact on the global economy, Gao said.
President Trump promised to respond Friday after China said it will slap tariffs on $75 billion of autos and other USA goods. Last year, he refused to sign the joint communique that the others signed.
China's government and companies in China do not pay tariffs directly. But it has balked at discarding its industry development plans.
After Announcing Payroll Tax Cut; Trump Lashes Out On Media
If the USA were to face a recession, it would be "moderate and short", Mulvaney told roughly 50 donors, according to an attendee. China, though, said trade with the USA has been " mutually beneficial " and appealed to Washington to "get along with us".
The president also said China may try to wait until the next presidential election to get a trade deal "and try to get "Sleepy Joe Biden" to negotiate with them instead of President Trump".
On Aug. 1, Trump announced new tariffs of 10 percent to be imposed in September on another $300 billion worth of Chinese imports, including smartwatches, smart speakers, and Bluetooth headphones.
Trump delayed the same 10% levy on another $200 billion worth of Chinese imports - consumer electronic products, clothing and footwear - until December 15 to avoid impacting the holiday shopping season in the U.S.
The statement from the Chinese side followed President Donald Trump's statement on Tuesday that Americans must be prepared to endure a bit of economic pain if they want to achieve long-term benefits by winning the trade dispute. But Trump said, "I'm not ready to make a deal" with China. "The only problem we have is Jay Powell and the Fed". But the Trump administration said the move wasn't a concession and was instead meant to shield American shoppers from price increases during the holiday shopping season.
The U.S. side is still hoping for that visit to happen, with Trump's economic adviser Larry Kudlow telling Fox Business Network that "hopefully we are still planning on having the Chinese team come here to Washington D.C.to continue the negotiations".