China-US Trade Tensions: State Council holds press conference on ongoing trade tension
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CGTN reporter Wu Guoxiu was at the State Council's press conference asked about Trump's recent tweet.
WU GUOXIU CGTN REPORTER "In a tweet, US President Donald Trump said he asked Beijing to come up with a plan to cut the annual U.S. trade deficit with China by $100 billion. Can you comment on this?"
WANG SHOUWEN CHINESE VICE COMMERCE MINISTER "The 100 billion US dollar deficit cut President Trump demanded on China is not acceptable. Because it can't be done. The trade imbalance is determined by market forces. Only by working on the economic structure can we change that. We can not dictate the change in trade deficit or surplus. Cutting the deficit requires efforts on both sides. China alone cannot make that happen. If we want to buy from the US, but they don't want to sell, as they are restricting their exports. Other countries are exporting to China, but you are not exporting to China. How can you cut your deficit? We hope the US can loosen their restrictions on exporting high-tech products to China. We hope the US can increase their saving rate and actively respond to the Chinese government's actions to increase imports. The trade deficit or surplus can only be resolved through joint efforts."