Wednesday 21st April 2021

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  • White paper: U.S. tariffs hurt both economies and the entire world

    China released a white paper titled “China’s Position on the China-U.S. Economic and Trade Consultations” on Sunday morning, regarding its stance on economic and trade talks with the U.S.

    The U.S. has been rebellious and dishonest in the China-U.S. trade talks, said the paper.

    “China has always adhered to the consultative position of equality, mutual benefit and good faith during the trade talks,” it added.

    The paper also noted China’s position which has been consistent and clear – that cooperation serves the interests of the two countries, that conflict can only hurt both, and that cooperation is the only correct choice for both sides.

    U.S. suffers from its tariffs on Chinese goods

    Since the establishment of diplomatic relations between China and the U.S., bilateral trade and economic relations have come a long way, with expanding fields of cooperation at higher levels, the paper said.

    “A mutually beneficial and win-win relationship with strong complementarity and interlinked interests has been forged, benefiting not only the two countries but also the entire world.”

    The paper also said the U.S. tariffs on Chinese goods hinder bilateral trade and investment cooperation, affecting the confidence of the two economies and even the global market.

    The trade war does not make America great again

    According to the paper, the tariff hike on Chinese exports to the U.S. has hurt rather than boosted the U.S. economy.

    U.S. trade bullying damages global interests

    The paper says U.S. trade bullying has damaged the entire world, adding that economic globalization is unpreventable.

    It also stressed that unilateralism and protectionism won’t get any support.

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