Now let's shift our attention to trade tensions between China and the United States. China's Ministry of Commerce described the US approach to trade tariffs as protectionism and accused Washington of having a Cold War mentality. CGTN's Timothy Ulrich has the story.
The United States says it will give China a 60-day window before tariffs on Chinese goods take effect to allow time for talks. But Chinese Commerce Ministry spokesperson Gao Feng says China will not change its position.
GAO FENG, SPOKESPERSON CHINESE MINISTRY OF COMMERCE "We hope the US will follow the rules of the global economy and free trade. The door for negotiations remains open, but we must first abandon protectionist behavior and discussions must be equal. China is against any forced dialogue proposed under pressure and force."
Gao Feng rejected claims that the tariffs are a response to a lack of openness in China's market.
GAO FENG, SPOKESPERSON CHINESE MINISTRY OF COMMERCE "Since China joined the WTO, it has fulfilled its commitment to all the members of the organization. China's current overall tariff level is only 9.8%, 5.5% less than 2001."
Gao said the United States was violating the principles of Most Favored Nation.
GAO FENG, SPOKESPERSON CHINESE MINISTRY OF COMMERCE "The U.S. practices break its promise on tariff concessions under the GATT 1994 Article II and breach its obligations of the most-favored-nation-treatment under the GATT 1994 Article I. It openly challenges multilateral trade rules."
Gao said over-capacity is a global issue. Countries must first abandon protectionist behavior and discussions must be equal. The only solution is to expand cooperation between each country.