BEIJING, March 23 (Xinhua) -- China's Ministry of Commerce (MOC) on Friday urged the United States to "pause on the brink of a precipice" and make prudent decisions so as not to put bilateral trade relations in jeopardy.

Calling the recent U.S. restrictive measures on China "a very bad precedent," an MOC spokesperson said it went against "the interests of China, the United States and the world at large."

China will not sit idly watching its legitimate rights and interests being damaged under any circumstance, the spokesperson said.

"We are fully prepared to firmly defend our interests," he said.

Despite strong warnings from business groups and trade experts, U.S. President Donald Trump on Thursday signed a memorandum that could impose tariffs on up to 60 billion U.S. dollars of imports from China and restrictions on Chinese investment in the United States.

The memorandum is based on the so-called Section 301 investigation into alleged Chinese intellectual property and technology transfer practices, launched by the Trump administration in August 2017.

"We firmly oppose it. It is a typical unilateral and protectionist practice," the spokesperson said.

The spokesperson also reiterated China's stance of not wanting or fearing any trade wars.

"We have confidence and capability in dealing with any challenges," he added.