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China has taken a more solid stance in reaction to a string of past and likely imminent trade protection measures issued by the US, reiterating that it will not sit idly should the interests of Chinese enterprises be compromised.
Again stressing the significance of US trade in bilateral relations, the Ministry of Commerce drew on analogies used by Chinese President Xi Jinping, calling 230 billion US dollars worth of trade a “ship’s ballast”, preventing relations from capsizing, as well as a propeller, driving relations forward.
Coming just ahead of an expected announcement by US President Donald Trump of a massive 50-60 billion US dollars tariff package on Chinese merchandise, China’s finance ministry issued the statement in response to news that its second largest trade partner would soon be publishing the results of intellectual trade investigations under section 301, initiated by the Trump administration in August last year.
“We hope the US will recognize the mutually beneficial nature of trade relations, and not take actions that will harm itself and others,” the ministry warned.
The World Trade Organization has ruled against US anti-subsidy tariffs imposed on China on products from lawn groomers to wind towers, finding that the countervailing measures launched during the Obama administration, are inconsistent with multiple free trade rules.
This provides further backing for China’s consistent stance that the US has been abusing trade protection measures to the detriment of fairness and balance of the international commerce environment.
China has invariably demonstrated a measured attitude towards a series of tariffs unleashed by the Trump administration on washing machines, steel and aluminum, with Chinese premier Li Keqiang pledging to level the playing field for foreign firms and allowing fairer access.
(CGTN)
