A Chinese state-backed newspaper on Monday warned US President-elect Donald Trump that American industries stand to lose if he launches an all-out trade war against China as he had promised to do so during his campaign.

In an editorial, the Global Times said Trump would be a "naive fool" and would face disaster if he launches an all-out trade war against Beijing.

Like Us on Facebook

Trump has repeatedly lashed out at China and vowed to slap 45 percent tariffs on Chinese imports. The incoming US leader has even accused Beijing of being a currency manipulator.

Countermeasures

The billionaire president-elect accused Beijing of "cheating"  in one of his rallies in August, branding it as "the greatest theft in the history of the world."

The Global Times warned Trump that such measures would be a grave mistake and that China is ready to take countermeasures is he opts to fulfill his campaign promise to impose a "defensive" 45 percent tariff on China-made goods.

The editorial said that If Trump' wrecks trade between Beijing and Washington, numerous American industries stand to suffer and that the new president would be condemned for his incompetence, recklessness, and ignorance.

Trade retaliation

The commentary threatened Trump that he would face retaliation from China if he makes things difficult for Beijing politically. The newspaper warned that China could cut US cars and iPhone sales in the country, halt corn and US soybean imports and even limit the number of Chinese students enrolling in US universities.

China's foreign affairs ministry issued a statement last week reminding Trump to act cautiously in his dealings with Beijing.

In the statement, China's foreign ministry spokesman Lu Kang said that he believes that any politician who wishes to protect the interests of his people first will have to adopt a policy that is conducive to the trade cooperation between Beijing and Washington.

The Global Times editorial was put out hours after Trump and Chinese President Xi Jinping spoke on the phone. Trump reportedly thanked Xi for his well wishes on his election victory.

Trump's staff released a statement to reporters following his talk with President Xi.

"During the call, the leaders established a clear sense of mutual respect for one another, and President-elect Trump stated that he believes the two leaders will have one of the strongest relationships for both countries moving forward," the statement said.

TagsGlobal Times, US President-elect Donald Trump, Chinese President Xi jinping, Chinese imports, trade war, campaign speeches