Sections

ideals
Business Essentials for Professionals



China Willing To Resolve US Trade Dispute Of Talks Are Held On Equal Footing


11/05/2018


China Willing To Resolve US Trade Dispute Of Talks Are Held On Equal Footing
According to media reports quoting one of the top commerce officials of China, the second largest economy in the world is not averse to patching up with the United States in terms of the trade disputes if there is mutual respect, integrity and equal footing in the talks.
 
During a news conference ahead of the inaugural China International Import Fair (CIIE) in Shanghai last Saturday, China’s Vice-Commerce Minster Wang Bingnan said that healthy and stable development of Sino-US relations would be promoted by Beijing.
 
Wang said that the trade fair is being viewed as China’s commitment to promote “a new round of opening up” to the outside world and is the first ever global trade fair that is solely dedicated to imports.
 
Wang told reporters that American companies have responded positively to the fair when he was questioned about the potential impact that the fair could have on the escalating trade war between China and the US as well as the trade relations between the two largest economies of the world.
 
The Chinese official also noted that the American delegation attending the fair was the third largest as a group in the participating in the fair with a participation strength of almost 180 US companies.
 
“This fully demonstrates the attractiveness of China’s market and this import fair to American companies,” he said.
 
He added that added that China is “willing to expand imports from all over the world including the US.”
 
“We also hope that Chinese and American companies can make full use of the platform of the import fair to promote the complementary economic advantages of the two countries to achieve mutual benefit and win-win results.” 
 
The trade war between the two largest economies of the world which started earlier middle of this year has already seen the US imposing import tariffs on US goods worth $250 billion while retaliatory tariffs have also been imposed by China on import of US good worth $110 billion.
 
A deal with China is likely, US President Donald Trump said on Friday, and added that the two sides have made a a lot of progress for the trade differences resolved as soon as possible.
 
“If we can open up China and make it fair, for the first time ever – this should have been done years ago by other presidents but it wasn’t – I am very much willing to do it. But China very much wants to make a deal,” he told reporters in Washington.
 
However at the same time,. Trump also issued a warning that his administration might as well impose import tariffs on the import of $267 billion worth of Chinese imports into the US if a deal is not made with China.
 
Later this month, Trump is scheduled to meet the Chinese premier Xi at the Group of 20 leaders summit in Argentina and trade is expected to dominate the agenda of discussions of the two leaders.
 
(Source:www.straitstimes.com)


In the same section
< >