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China's Ministry of Commerce (MOC) said Thursday that the U.S. action against ZTE will damage itself. "The action targets China, however, it will ultimately undermine the United States itself," said MOC spokesperson Gao Feng.

The meeting also reviewed and adopted a plan to reform the setup of special organizations and public institutions directly under the State Council, organizations and administrative offices under the State Council, and administrations and bureaus under the ministries and commissions.

"These reports remind me of a Chinese saying: your thoughts shape the world in your eyes. Thus, it is not strange to hear such remarks from the head of the world's largest intelligence agency," Hua said.

Kouketsu said the current warming-up trend in the bilateral ties should be cherished by both countries. Further improvement of the relationship needs joint efforts by both sides, especially the Japanese Government.

"Trade wars would not be beneficial for the U.S., from an economic point of view," Peterson warned.