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  HOME | Business & Economy (Click here for more)

China Hopes That Trade Conflicts with US Are Not Aggravated

BEIJING – China said on Thursday that it hoped that the trade-related friction with the United States is not aggravated and that they can resolve their disagreements.

China’s statement came at a time of increased tension between the two superpowers after a US decision to raise import duties on some Chinese goods.

Commerce Ministry spokesperson Gao Feng said at a press conference in Beijing that China hopes that the trade conflicts with the US do not worsen and that the countries are able to settle their disagreements in a constructive manner and further collaboration.

The ministry, which had already expressed its dissatisfaction with the US decision, said that it will take all steps necessary to defend its own legal interests concerning monopoly and protectionism that do not correspond to World Trade Organization regulations.

After announcing the new tariffs – which will be 30 percent on imported solar panels and solar cells and 20 percent on large residential washing machines – US President Donald Trump ruled out a trade war, given the possibility of US allies taking similar steps.

Both South Korea and China, where most of the solar panels and cells and washing machines are produced, have criticized the president’s decision, saying that it will end up hurting the competitiveness of the US economy and will lead to price rises.

 

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