02:11
China's commerce ministry released a statement today clarifying its stance on its ongoing trade dispute with the United States. It said Washington had defamed China with accusations that it participated in unfair trade practices; its protectionist policies were detrimental to the global economy; and the onus was now on the Trump administration to end the dispute.
The ministry said it was a distortion of fact that China had been taking advantage of unfair trade relations with the US. It added it was American policy to suppress China's development, and its structural problems at home were leading to problems in society.
The ministry said claims that China wasn't cooperating with the US in trade negotiations were untrue. It said China has always looked to find ways to resolve the trade differences between the two countries. China held four rounds of high-level trade talks with the US from February to June this year. In a joint statement, both sides agreed to do all they could to avoid a trade war. But the US abandoned the deal, and China has done its utmost to ensure the situation didn't escalate. The ministry said responsibility for the escalation lies entirely on the American side.
The ministry reiterated there's no legal ground for the US to unilaterally start a trade war with China. It said the American tariffs were typical examples of unilateralism, protectionism and trade bullying, and they were a clear violation of basic WTO principles.
The ministry said China had no choice but to take retaliatory action, and defend both the interests of China and the world.
The ministry went on to say that America was launching a trade war not just against China, but the whole world. It said with a policy of "America First", it has become an enemy to all and this can be seen in how many WTO members have already made countermeasures and requested consultations with the US under the WTO dispute settlement mechanism.
The ministry said China would continue to push ahead with its reform and opening up program, and would work with the rest of the world to firmly uphold free trade and the multilateral trading system.