China issues white paper on China-US trade talks stance

03 Juin, 2019, 09:55 | Auteur: Anatole Charbonneau
  • Chinese Vice Premier Han Zheng speaks during the China Development Forum in Beijing on 24 March 2019

Wang Shaowen, vice commerce minister and deputy global trade representative, said China had been forced to "take forceful measures in response" to United States actions and denied China had backtracked on its earlier commitments. "However, the US has backtracked, and when you give them an inch, they want a yard".

With talks stalled, the dispute appears to be spreading beyond tariffs.

Trump has said he will meet President Xi Jinping at the G20 summit in Osaka at the end of the month, though China has not confirmed the meeting.

Wang, who was speaking at the unveiling of a new government policy paper on the trade war, said US officials overestimate the trade deficit between the two countries and China should not be blamed for a decline in USA manufacturing jobs.

This all comes as trade tensions between the United States and China continue to escalate in what is feared to become a tech Cold War.

The White House did not immediately respond to a request for comment.

The white paper stated that China's "sovereignty and dignity must be respected, and any agreement reached by the two sides must be based on equality and mutual benefit". That repeats previous statements from chief negotiator Vice Premier Liu He and others. The Ministry of Commerce announced recently that China will establish a list of "unreliable entities" - a blacklist of foreign parties that harm the interests of Chinese companies.

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According to an Associated Press report, Wang added: "During the consultations, China has overcome many difficulties and put forward pragmatic solutions". "There's no grounds to blame China" for starting an investigation into FedEx mis-routing some packages from Huawei Technologies.

Beijing retaliated by hiking tariffs on $60 billion worth of U.S. imports starting from June 1.

Following up on his campaign promises, the president slapped China with tariffs past year.

At the most recent talks in May, the U.S. used "intimidation and coercion" and "persisted with exorbitant demands, maintained the additional tariffs imposed since the friction began, and insisted on including mandatory requirements concerning China's sovereign affairs in the deal".

"The Chinese government rejects the idea that threats of a trade war and continuous tariff hikes can ever help resolve trade and economic issues", according to the white paper.

It said China had enough fiscal and monetary policy tools and "good momentum" to sustain economic development despite the trade war.

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