Ministry of Commerce Responds to Hot Issues of Sino-US Economy and Trade： Resolutely Oppose the Escalation of Trade War

　　Beijing, August 29 (Xinhua) The Ministry of Commerce held a regular press conference today, and the spokesman Gao Feng responded to a number of hot issues in Sino-US economic and trade consultations. Gao Feng confirmed that the economic and trade teams of China and the United States have always maintained effective communication. In response to the US proposal to impose tariffs on US$ 550 billion of China’s goods exported to the United States and then raise the tax rate, Gao Feng said that China has sufficient countermeasures, but the trade war should be prevented from escalating under the current situation.

　　Profile photo: Gao Feng, spokesperson of the Ministry of Commerce. Xia Bin

　　China resolutely opposes the escalation of Sino-US trade war.

　　A reporter asked that US President Trump said a few days ago that China is very welcome to reach a trade agreement and calmly handle differences. How do you comment on this?

　　Gao Feng said that China has made clear its attitude, resolutely opposed the escalation of the trade war, and is willing to solve the problem through consultation and cooperation in a calm manner. "The escalation of the trade war is not conducive to China, not conducive to the United States, and not conducive to the interests of people all over the world."

　　The economic and trade teams of China and the United States have indeed maintained effective communication.

　　Recently, it was said that China called American economic and trade negotiators to negotiate or reach an agreement. In this regard, Gao Feng, a spokesperson for the Ministry of Commerce, said that the economic and trade teams of the two sides have indeed maintained effective communication. There is no more information about the details at present.

　　Gao Feng said that there are many rumors at present, and the Ministry of Commerce will clarify the facts and let everyone know the truth in the economic and trade field.

　　China has sufficient countermeasures, but it should prevent the trade war from escalating.

　　A reporter asked whether China intends to take corresponding countermeasures against the US proposal to impose tariffs on US$ 550 billion of goods exported from China and then raise the tax rate.

　　Gao Feng said that China’s countermeasures are sufficient. However, in the current situation, China believes that the issue that should be discussed is to cancel further tariffs on 550 billion US dollars of China goods to prevent the trade war from escalating.

　　Gao Feng stressed that "the escalation of the trade war is not conducive to China, the United States, and the interests of people all over the world, and may even bring disastrous consequences to the world."

　　China has the ability to ensure the good momentum of the fundamentals of economic development.

　　In response to the question "Will the escalating trade war have a serious impact on China’s economy", Gao Feng said that China’s economy is changing from high-speed growth to high-quality development, and the trend of transforming old and new kinetic energy is constantly strengthening. China has a dynamic micro-foundation, a huge room for maneuver and sufficient macro-policy tools, and is fully confident and capable of ensuring a good momentum of economic development fundamentals.

　　Responding to the question "China Economic and Trade Delegation to the United States for Consultation in September"

　　In response to the question "About China’s economic and trade delegation going to the United States for consultation in September", Gao Feng said that the economic and trade teams of China and the United States have maintained effective communication and are discussing the issue of China’s economic and trade delegation going to the United States for consultation in September. At present, the most important thing is to create the necessary conditions for the two sides to continue consultations. If there is any further information, the Ministry of Commerce will release it in time.

　　American manufacturing enterprises move out of China? Ministry of Commerce responded

　　Some media asked, US President Trump recently asked American companies to move manufacturing from Beijing back to China or to other places. What is the response of the Ministry of Commerce?

　　In this regard, Gao Feng pointed out that China and the United States are important trading partners and sources of investment, and the interests of both sides are deeply integrated, which has formed a pattern of "you have me and I have you". The economic ties between China and the United States cannot be cut off by anyone who wants to. If someone tries to decouple the two countries’ economies by force, the result will inevitably harm others and themselves, which will not only seriously harm the interests of American enterprises and people, but also threaten the security of global industrial chain supply chain, international trade and the world economy.

　　Gao Feng said that people from all walks of life in the United States have expressed their opposition to the above remarks. The essence of Sino-US economic and trade relations is mutual benefit and win-win. The two sides are not rivals of zero-sum game, but should be mutually beneficial partners. China welcomes enterprises from all over the world, including the United States, to invest and operate in China and will continue to create a good business environment.

　　Will soybeans become the main tool to counter the United States?

　　A reporter asked, last Friday, China listed soybeans as one of the targets of imposing tariffs on the United States and Canada. Will soybeans and other agricultural products continue to be the main tools for China to counter the United States? Will you worry about the impact on China’s soybean industry? Last Friday, China announced that it would resume imposing tariffs on cars and parts produced in the United States. European car companies produced in the United States, such as Mercedes-Benz, may be affected. Will China consider providing tariff exemptions for these European car companies, such as Germany, which are produced in the United States?

　　In this regard, Gao Feng said that last Friday, China listed some goods imported from the United States as the target of tariff increase again, which was a necessary counter-measure that China had to take. It is hoped that the United States will cancel the new tariff increase measures and avoid further escalation of the trade war. The issue of tariff exclusion will be arranged by the State Council Customs Tariff Commission in a unified way. If there is any further information, it will be released in time.

　　It will be American companies that will eventually be damaged by suppressing China enterprises.

　　Some media have asked questions. Recently, the US Department of Commerce has received more than 130 applications for licenses to sell products to Huawei, but the Trump administration has not issued any licenses. What is the comment of the China Department of Commerce?

　　Gao Feng said that China has noticed relevant reports, which shows that in many fields, Chinese and American enterprises have formed an interdependent relationship in the industrial chain. If China enterprises are suppressed, American enterprises will eventually suffer. It is hoped that the United States will, based on the interests of its own enterprises and the safety of the global industrial chain and supply chain, cancel the suppression and sanctions against China enterprises such as Huawei as soon as possible.

　　The trade war should be prevented from escalating under the current situation.

　　Reporter’s question, the spokesman, you just answered the question about Trump’s new tariffs on China’s 550 billion products. You said that China has sufficient tools to counter them, but now China feels that the more important issue is to discuss the cancellation of these tariffs. Does this mean that China will not counter Trump’s new tariffs? Why change this strategy now, because China will take countermeasures against all new tariffs imposed by the United States before?

　　Gao Feng pointed out that I have responded very clearly just now, and China’s countermeasures are sufficient. However, in the current situation, China believes that the issue that should be discussed is to cancel further tariffs on 550 billion US dollars of China goods to prevent the trade war from escalating. At present, China is making solemn representations with the US.

　　The Sino-US trade war has reached the point where it has to be fought? Ministry of Commerce responded

　　A reporter asked, recently, the United States has been escalating its economic and trade frictions with China. Has the Sino-US trade war reached the point where it has to be fought?

　　In this regard, Gao Feng said that China resolutely opposes the escalation of the trade war. Starting from the overall situation of China and the United States and the whole world, China is willing to solve the problem through consultation and cooperation with a calm attitude. It is hoped that the United States and China will move in the opposite direction and promote the proper settlement of Sino-US economic and trade issues on the basis of equality and mutual respect.