US urged to be rational as trade row heats up

CHINA yesterday urged the United States to be more rational about the trade issue and to stop undermining its own interests as well as that of others.

Foreign Ministry spokesman Geng Shuang made the remarks at a daily press briefing in response to a question on US Secretary of State Mike Pompeo’s recent speech at the Detroit Economic Club.

Pompeo blamed China’s economic and trade policy for the trade issue in his speech on Monday and said the US will respond to “protect American property.”

“The spokesman for the Ministry of Commerce has already declared China’s solemn position on the economy and trade,” said Geng, pointing out that the US has confused right and wrong and the purpose of the accusation is to disguise its unilateralism and protectionist policy.

“Treating the consensus reached by both sides with complete disregard, the United States has recently been back and forth and has finally ignited a trade war,” said Geng.

He reiterated that the latest move not only decreases trust, but also undermines the interests of the Chinese and American people, the interests of companies of both countries and the interests of people all over the world.

“China does not want a trade war, but it does not fear one,” said Geng, stressing that China will continue to take effective measures to safeguard the interests of the nation and its people and firmly uphold economic globalization and the multilateral trading system.

“No matter how the external environment changes, China will follow the established rhythm, stick to the vision of development for the people, unwaveringly advance reform and opening-up, promote high-quality economic development, and accelerate the development of a modern economy,” Geng said.

Earlier yesterday, a spokesman for China’s Ministry of Commerce said if the US loses its rationality and unveils another list of Chinese products for additional tariffs, China will have no choice but to take comprehensive measures combining quantitative and qualitative ones to strike back.

After unveiling plans to impose additional tariffs on Chinese goods worth around US$50 billion, the US went even further by threatening to identify US$200 billion worth of Chinese products for additional tariffs.

“Such practice of imposing extreme pressure and blackmailing is contrary to the consensus the two sides have reached through rounds of consultations, and disappoints the international community,” the spokesman said.

“The trade war waged by the United States is against both the law of the market and the development trend of today’s world.”