CHINA is firm on its position that any genuine resolution to the United States’ (US) unilateral tariffs on its exporters can only be achieved through equal and constructive dialogue.
This was reiterated by China’s Ministry of Commerce in response to foreign media reports that US Secretary of Treasury Scott Bessent recently said a “trade war with China is unsustainable” and tensions are expected to ease in the near future.
Speaking at a weekly conference news conference in Beijing last week, China’s Ministry of Commerce spokesman He Yadong said the arbitrary US imposition of tariffs violates fundamental economic principles and market rules.
Rather than addressing its own challenges, these measures severely disrupt the international economic and trade order, hinder normal business operations, and negatively affect people’s livelihoods and consumer confidence. Mr He said.
Similar sentiment was expressed by a researcher at the Beijing-based Chinese Academy of International Trade and Economic Cooperation, Zhou Mi as reported by China Daily.
Mr Zhou stated that the US tariff hikes do not only shake confidence in the international economic and trading system, but also erode global trust in the US.
He highlighted that competition and cooperation between China and the US in relevant industrial sectors can notably accelerate the pace of innovation and development, whilst also benefitting consumers worldwide.
“For example, the synergy between technological advancement and market expansion has rapidly elevated new energy vehicles into a standout sector in global manufacturing, propelling the fast-track commercialisation of related products and services such as autonomous driving, advanced batteries and vehicle connectivity systems,” Mr Zhou added.
Amidst Washington’s indiscriminate imposition of tariffs on many countries, China’s Vice Minister of Commerce, Ling Ji convened a roundtable with foreign business executives on Wednesday 23 April to discuss the impact of US tariff increases on their operations and investments in China.
In a separate statement issued on Thursday 24 April, China’s Ministry of Commerce said Ling, who is also Deputy China International Trade representative, reaffirmed China’s commitment to further opening up, and urged international corporations to unite in opposing unilateralism and protectionism.
“China will continue to pursue high standard opening-up, safeguard the legitimate rights of foreign companies and take more proactive measures to support them in overcoming operational difficulties,” he added.
China Daily reported that according to a survey released last week by the German Chamber of Commerce in China, about 38 per-cent of German companies are accelerating their localisation plans in China as a key response to the US tariff hikes. In the automotive sector, the figure rises to 48 per-cent.
By DELI-SHARON OSO
In Beijing, China
