White paper on trade relations with US leased by China
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Beijing: A white paper titled "China's Position on Some Issues Concerning China-U.S. Economic and Trade Relations" was published by China's State Council Information Office on Wednesday.
According to the white paper, the Chinese government released the document to elucidate the facts regarding trade and economic relations between China and the United States and to elaborate on the Chinese side's stance on pertinent issues.
The white paper came as rising unilateralism and protectionism in the United States have significantly impeded normal economic and trade cooperation between the two countries, reports Xinhua news agency, IANS reported.
Since the beginning of trade friction in 2018, the U.S. side has imposed tariffs on Chinese exports worth more than 500 billion U.S. dollars and has continuously implemented policies aimed at containing and suppressing China.
Recently, the United States levied comprehensive additional tariffs on Chinese products, including tariffs citing the fentanyl issue as the pretext, "reciprocal tariffs," and an additional 50 per cent on existing tariffs.
These measures -- revealing the isolationist and coercive nature of U.S. conduct -- run counter to the principles of the market economy and multilateralism, and will have serious repercussions for China-U.S. economic and trade relations, the white paper said.
In response to the U.S. moves, China has taken forceful countermeasures to defend its national interests and has remained committed to resolving disputes through dialogue and consultation, with multiple rounds of consultations with the U.S. side to stabilize bilateral economic and trade relations, according to the document.
The Chinese side has always maintained that China-U.S. economic and trade relations are mutually beneficial and win-win in nature, the white paper said.
As two major countries at different stages of development with distinct economic systems, it is natural for China and the United States to have differences and frictions in their economic and trade cooperation. It is crucial to respect each other's core interests and major concerns and find proper solutions to resolve the issues through dialogue and consultation, according to the document.