Beijing, China on Thursday accused the United States of exercising "open economic terrorism" against it by imposing criminal charges and sanctions on its companies in a new escalation of the Beijing dialect in the trade war between the two countries.

During a press conference before Chinese President Xi Jinp's visit to Russia next week, China's Vice Foreign Minister Zhang Hanhui said "We are against the trade war, but we are not afraid of it,".

"This premeditated instigation of a trade conflict is naked economic terrorism, economic chauvinism, and economic bullying," he added.

"There is no winner in a trade war," the Chinese official warned, noting "this trade conflict will also have a serious negative impact on the development and revival of the global economy."

"China and Russia will certainly strengthen economic and trade cooperation, including cooperation in various fields such as economic and trade investment," he added.

"We will certainly respond to various external challenges, do what we have to do, develop our economies, and constantly improve the living standards of our two peoples."

The world's two largest economies are at loggerheads as trade talks have apparently stalled, with US President Donald Trump hiking tariffs on Chinese goods earlier this month and blacklisting telecommunications giant Huawei.

China has hit back with its own tariff increase that will take effect on June 1, while state media has suggested that Beijing could stop exports of rare earths to the US, depriving Washington of a key resource used to make hi-tech products.

Source: Jordan News Agency