China Once Again Urged the US to Stop Trade Protectionism

Forex News

China advised the United States to refrain from measures that could, in one way or another, provoke further deterioration in bilateral trade relations. Beijing claims that there is a risk of triggering a chain reaction that will spread the trade protection virus around the world.

It is expected that the list of tariffs for Chinese imports will be published within the next few days. Trump's chief sales representative said that he would give China a 60-day window before tariffs on Chinese goods take effect, but added that it would take years to bring the two countries' trade relations back to normal.

Beijing has already made its position clear regarding trade. China does not intend to start a trade war, as it is actively developing partnerships around the world, is making efforts to create a new model of international relations, where cooperation takes into account the interests of all countries and is mutually beneficial. Representatives of the Chinese government say that the measures taken by the US regarding China in the trade and economic sphere are a typical example of trade protectionism, a reflection of the mentality of the cold war.

In response to US actions, Beijing urged Washington to abolish imposed duties on steel and aluminum as soon as possible, which harm both other countries and the US itself. The China’s Ministry of Commerce announced its intention to take appropriate measures to protect their rights and interests. In particular, the list of 128 names of goods imported from the US has been published, for which China can introduce duties in 15% and 25% to protect its interests.