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May 24, 2019

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Escalating trade tensions deal a blow to talks

THE United States should show sincerity and correct their wrong practices if the country wants to continue Sino-US trade talks, China’s commerce ministry said yesterday.

China’s stance on talks has always been clear, Gao Feng, the ministry spokesperson, said yesterday.

The United States has been escalating trade frictions using various moves, dealing a heavy blow to bilateral economic and trade talks, Gao said.

“Only on the basis of equal treatment and mutual respect will talks be likely to move on,” Gao said.

He added that China will never compromise on major issues of principle, as cooperation is based on certain principles and there are bottom lines for negotiations.

Gao pointed out that the latest wrong practices of the United States added to economic and trade tension, not only seriously hurting the interests of enterprises and consumers of both countries, but also having a recessionary impact on global economy.

The Organization for Economic Cooperation and Development has lowered its forecast for global economic growth, saying that trade tensions have weighed on global growth and will continue to threaten investment and growth.

China also said yesterday that it hopes all countries in the world will continue providing a fair, just, stable and predictable business environment for Chinese enterprises, which also serves the fundamental and long-term interests of their own.

Foreign ministry spokesperson Lu Kang made the remarks after German chipmaker and semiconductor manufacturer Infineon and Japan’s Panasonic issued statements that they did not stop their supplies to Huawei.

Lu said the declaration of these Huawei’s partners indicated that no companies in any country would disregard their own interests and blindly follow the political arrangements of another country.

In fact, most countries were highly vigilant against the US government’s use of state power to suppress enterprises of other countries, interfere with market operations, and obstruct mutually beneficial cooperation among other countries, Lu said.


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