China-US Trade Tensions: Beijing: US being temperamental over bilateral trade issues

World
Europe

02:37

We start the broadcast with the latest on trade tensions between China and the United States as China is now accusing the US of being temperamental and warned that American interests, as well as those of other countries, will ultimately be hurt if the US continues with this trade strategy. Our reporter Zheng Yibing has more.

It's a strong and firm stance by China over the drawn-out tariff back-and-forth with the United States.

GAO FENG SPOKESPERSON, CHINESE COMMERCE MINISTRY "Very unfortunately, the US is temperamental and getting further from the right track, and initiated the trade war. China has had to respond in strong way."

The ministry says China will have no choice but to adopt strong countermeasures of the same amount and quality. IF the US carries through with its threat on additional tariffs.

President Donald Trump on Monday pressured China with an additional 10 percent tariffs on 200 billion US dollars' worth of Chinese goods. Previous trade talks were positive and constructive, but the ministry now says Washington is being unpredictable and irrational.

GAO FENG SPOKESPERSON, CHINESE COMMERCE MINISTRY "The US is used to negotiating with a stick in hands, but that's not going to work with China. This irrational act is not beneficial to fixing problems."

The US is accusing China of stealing intellectual property rights and enabling forced technological transfers. But the ministry denies that, saying that is a distorted reality.

GAO FENG SPOKESPERSON, CHINESE COMMERCE MINISTRY "In the process of China's reforms and opening up, many overseas enterprises have conducted very good technological cooperation with Chinese enterprises out of their own interests. They are typically contractual behaviours in the market, and it is known by all that the overseas enterprises have earned a rich return."

Reiterating that protectionism and unilateralism has no place in global trade, the ministry announced a high-level China-Europe dialogue on June 25th in Beijing.

ZHENG YIBING BEIJING "The commerce ministry said that china will take action to defend its interests, and US unilateralism will ultimately damage the interests of its own, and China has had to respond in a strong way. Zheng Yibing, CGTN, BEJING."