China and US will benefit by putting trade ties on the right track

Before the US delegation led by Treasury Secretary Steven Mnuchin arrived in Beijing to discuss a host of trade and investment issues on Thursday and Friday, the right atmosphere should have been created to make the talks productive.

But that atmosphere was poisoned after the United States unleashed a series of protectionist measures, including tariffs on solar cells and modules as well as washing machines announced in January, steel and aluminum tariffs imposed in the name of national security in March, and the proposals to slap tariffs on $150 billion of Chinese imports under Section 301 of the Trade Act of 1974.

The unilateral US actions are widely seen as a violation of the rules of the World Trade Organization, and these first shots fired by the US have triggered grave concern about the future of the multilateral global trading system.

The list of trade and investment issues between the two largest economies could be very long, but the correct approach is to address them through talks and negotiations and the existing multilateral system.

The opposition to US tariffs and other protectionist measures has been voiced not just by US trade partners, including French President Emmanuel Macron and German Chancellor Angela Merkel during their recent visits to Washington, but by many in the US as well.

Exports of US goods to China hit a record $128 billion and ... US exports to China also support 1 million US jobs.