Plus   Neg

China Accuses US Of 'trade Bullying' In White Paper On Trade Friction


China accused the United States of "trade bullying" in a white paper it issued "to clarify the facts about China-U.S. economic and trade relations, demonstrate its stance on trade friction with the United States, and pursue reasonable solutions."

The highly critical white paper was published on Monday, the day a new round of US import duty on additional Chinese products worth $200 billion came into effect.

The US Government Monday applied new tariffs to a vast range of goods in nearly 6000 product categories, mainly consumer goods, including furniture, handbags, rice, fish, meat, fruits, cereal and textiles.

The Chinese government retaliated with tariffs on $60 billion worth of US goods, escalating a trade war between the two economic powerhouses.

It comes a few days after China warned the United States to "bear the consequences" if it does not withdraw punishing financial sanctions it imposed on a key Chinese military organization for buying Russian fighter jets and missiles.

The white paper accuses the Trump administration of abandoning the fundamental norms of mutual respect and equal consultation that guide international relations, in the name of its "America First" policy.

"Rather, it has brazenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs, and attempting to impose its own interests on China through extreme pressure," the white paper says.

It puts the blame completely on Washington for the current stalemate, and justifies the actions Beijing has taken over the years to avoid it.

The Chinese side has been dealing with these differences with an attitude of seeking common ground while shelving divergence, the white paper claims. "It has overcome many difficulties and made enormous efforts to stabilize China-U.S. economic and trade relations by holding rounds of discussions with the U.S. side and proposing practical solutions."

Beijing says that as a result of the U.S. "contradicting itself and constantly challenging China", trade and economic friction between the two sides has escalated quickly over a short period of time, causing serious damage to the economic and trade relations, and posing a grave threat to the multilateral trading system and the principle of free trade.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT