Synopsis
On April 9, 2023, China’s State Council Information Office released a white paper addressing the economic and trade relations with the U.S, highlighting the negative impacts of U.S. tariffs and the importance of dialogue for resolution.Key Takeaways
- China's white paper outlines its stance on U.S. trade policies.
- U.S. tariffs on Chinese exports exceed $500 billion since 2018.
- Recent additional tariffs have heightened trade tensions.
- China emphasizes mutual benefits in trade relations.
- Dialogue and consultation are key to resolving disputes.
Beijing, April 9 (NationPress) The State Council Information Office of China on Wednesday unveiled a white paper titled “China's Position on Some Issues Concerning China-U.S. Economic and Trade Relations.”
The Chinese authorities issued this document to elucidate the realities surrounding China-US economic and trade relations, while detailing the Chinese stance on pertinent issues, as highlighted in the white paper.
This white paper was released in light of the increasing unilateralism and protectionism from the United States, which have considerably disrupted regular economic and trade cooperation between the two nations, according to Xinhua news agency.
Since the onset of trade disputes in 2018, the U.S. has imposed tariffs on more than 500 billion U.S. dollars worth of Chinese exports and has persistently enforced policies aimed at undermining and constraining China.
Recently, the United States enacted extensive additional tariffs on Chinese goods, including those justified by the fentanyl issue, “reciprocal tariffs,” and an extra 50 percent on existing tariffs.
These actions -- showcasing the isolationist and coercive nature of U.S. behavior -- contradict the principles of market economy and multilateralism, and will have serious consequences for China-U.S. economic and trade relations, stated the white paper.
In light of the U.S. actions, China has implemented robust countermeasures to protect its national interests and has remained dedicated to resolving conflicts through dialogue and consultation, having engaged in multiple discussions with the U.S. to stabilize bilateral economic and trade relations, as per the document.
The Chinese side has consistently asserted that the economic and trade relations between China and the U.S. are mutually beneficial and win-win in nature, according to the white paper.
As two significant nations at different developmental stages with distinct economic systems, it is natural for China and the United States to experience differences and frictions in their economic and trade interactions. Respecting each other's core interests and major concerns is essential, and finding appropriate solutions to resolve issues through dialogue and consultation is crucial, as noted in the document.
