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Trade

Trade tension hurts interests of American people: Chinese diplomat

June 28, 2019


Abstract : Escalating trade tension between China and the United States is damaging the interests of farmers, manufacturers and local consumers in the United States, a senior Chinese diplomat said in an article published on Thursday.

SAN FRANCISCO, June 27 (Xinhua) -- Escalating trade tension between China and the United States is damaging the interests of farmers, manufacturers and local consumers in the United States, a senior Chinese diplomat said in an article published on Thursday.

In the signed article carried by the San Francisco Examiner, Chinese Consul General to San Francisco Wang Donghua dismissed some people's allegations that a better trade deal could be struck for the United States by means of maximum pressure, including tariffs imposed constantly.

"The fact is that the U.S. market share in China is not expanding but decreasing, because the tariffs have inevitably invited retaliation in kind, making the U.S. products such as commercial aircraft, soybeans, corn, meat and seafood less competitive," Wang wrote.

U.S. soybean growers have seen a fall of over 70 percent in their exports to China and their market share has been taken by other countries, Wang said.

He criticized some people for attempting to curb China's development by decoupling the economies of the two countries.

"As the top two economies in the world, China and the U.S. are closely intertwined to the extent not seen before, and complementary to each other in their pursuit of economic development," Wang said.

"One's move to hurt the other will eventually backfire or hurt oneself, and decoupling their economies will end up with both losers, a consequence that is hard to handle," he added.

He asserted that one will not get stronger by resorting to suppression on the other; rather, it will only succeed economically by improving its ability and competitiveness.

Wang said the United States needs external markets for greater development, and China has an expanding market to offer with a population of nearly 1.4 billion.

There is huge potential for China and the United States to cooperate and unlimited room for win-win results, he said.

"History and facts show cooperation benefits both and confrontation hurts both. Only by working together, can we both grow stronger, and respond better to the common challenges arising from the increasing uncertainties across the globe," Wang said in the article.

China appreciates those who advance the interests of the Chinese and American people and work for the sound development of China-U.S. relations, he said, stressing that China opposes any attempt to undermine the ties of the two countries and rejects any attempt detrimental to the interests of the two peoples.

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Keyword: China-U.S. trade

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