Beijing: The United States should refrain from handling the big tariff stick and using it as a coercive tool, the Chinese Ministry of Commerce said on Thursday.
The ministry spokesman, there is there, made these remarks in response to a media investigation into the recent announcement of the United States according to which she will impose “reciprocal rates” on her business partners. “China is deeply concerned about this decision,” he said.
The spokesperson noted that international trade is based on allocating resources and comparative advantages, and aims to promote global economic growth and improve the well-being of people around the world.
The “reciprocal prices” proposed by the United States violates the rules of the World Organization and do not take into account the balance of the interests established for almost 80 years of multilateral trade negotiations. The American approach also ignores the important advantages of international trade that the country has long appreciated, illustrating unilateralism and protectionism, he said.
It will seriously damage the multilateral trading system, which is based on principles such as the most favored principle, and will disrupt global supply chains, he said.
He will also introduce enormous uncertainty to normal international economic and commercial activities, said the spokesperson, stressing that many countries have explicitly expressed opposition to the American approach.
“A trade war has no way out and produced no winner,” he said. “The United States should correct its erroneous practices and work with all countries to find solutions thanks to an equal consultation.”
