MOFCOM: U.S. 'fully accountable' for damaging both sides and the world

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The U.S. should be held "fully accountable" for damaging both two countries and the world due to its frequent resorting to protectionism and unilateralism, China's Ministry of Commerce (MOFCOM) said on Tuesday.

The announcement came in response to the U.S's statement on China's white paper on China-U.S. economic and trade talks.

"Regardless of multilateral trade rules, the U.S. provoked Sino-U.S. trade frictions and imposes its will upon China with the excuse of a trade deficit, which is a typical action of trade bullying," the spokesperson said.

According to the MOFCOM, the U.S. trade deficit with China is market oriented with various objective factors. The U.S. theory of "suffering losses," thus, is untenable as the U.S. side has gained hugely from Sino-U.S. trade.

The Chinese government issued a white paper on Sunday entitled "China's Position on the China-U.S. Economic and Trade Consultations." / VCG Photo

The party who "does not respect" international rules with "unfair" practices is all too obvious, based on the MOFCOM.

Since the current administration came into office, companies from other countries have been suppressed while global industrial and supply chains have also been interfered with by the U.S., who despises international responsibility and obligation under the current president's slogan of America First.

"As mentioned in the white paper, the Chinese side has always carried the greatest patience and sincerity to promote China-U.S. economic and trade consultations," the MOFCOM cited.

The U.S. accusing China of "backpedaling" on important elements of a deal that had been largely agreed is completely groundless and unacceptable, according to the MOFCOM, it's an unremarkable fact in trade negotiations to revise text content and related statements and the U.S. side has constantly made adjustments during previous talks.

"China always believes that the differences and frictions between two sides in the economic and trade field will ultimately need to be resolved through dialogue and consultation, which, however, should be principled and based on mutual respect, equality and mutual benefit,” said the statement.

The statement also expressed that "China hopes that the U.S. will abandon its wrong practices, and both countries can control differences and strengthen cooperation to jointly keep China-U.S. economic and trade relations in a sound and stable way.”

The Chinese government issued a white paper to provide a comprehensive picture of the China-U.S. economic and trade consultations and present China's policy position on these consultations on Sunday.