China-US Trade Friction: Commerce ministry criticizes American policies
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02:27
We open with more on the trade disputes between China and the United States. The Chinese commerce ministry on Thursday accused the US of being temperamental when it comes to trade. The ministry also warned that the interests of American workers and farmers would ultimately be hurt if the Trump administration continues its unilateral trade policies. Christy Scull has the details.
Trade tensions between the world's two largest economies continue to simmer. The Chinese Commerce Ministry said Thursday that Washington's criticism of China's trade practices is in denial of market principles. The ministry said that China would respond if the US imposes new tariffs.
GAO FENG, SPOKESPERSON CHINESE COMMERCE MINISTRY "China's position is clear and consistent. We firmly oppose protectionism and imposing tariffs globally. This is undermining the world economic order and interests of the US's partners. The US always finds excuses and points finger to others. During China's reform and opening up, many foreign companies have had good cooperation with Chinese companies in terms of technology. But the US didn't see it that way."
The ministry also said that China believes its previous trade negotiations with the United States were positive and constructive, especially in such areas as agriculture and energy. The two sides were also planning to discuss additional cooperation in the manufacturing and services sectors. However, Trump's threat on Monday to hit 200 billion dollars of Chinese imports with 10 percent tariffs sent any progress made to a screeching halt. That left China with no choice but to fight back.
GAO FENG, SPOKESPERSON CHINESE COMMERCE MINISTRY "We've noticed that US society and businesses expressed big concern about trade measures and there is also big opposition from the international community to Trump's decision on tariffs. We will join on their side against tariffs and hope the US can go back onto a normal track."
The ministry said that the US should solve the structural problems in its economy instead of using other countries as a scapegoat. The ministry also said that the Trump administration's accusations of IP theft and forced technology transfers by China is a severe distortion of reality. Gao said that the trade friction with the US wouldn't slow China's opening-up and that the country would continue to widen its market access to foreign investors.