Chinese Ambassador says Ireland should use introduction of US tariffs to China to its advantage
The Chinese Ambassador to Ireland, Zhao Xiyuan, has said that this country should use the introduction of tariffs between the US and his home country to its advantage by increasing exports to China.
Earlier this month, US President Donald Trump introduced 145 per cent tariffs on Chinese goods, to which Beijing responded with a 125 per cent tariff on US imports.
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Ambassador Xiyuan told the Pat Kenny Show on Newstalk that the Chinese Government is looking to lower its reliance on the US market. He said that businesses in Ireland should benefit from China's reduced dependence on the US.
'You have a very good infant milk formula (industry) selling to China. I think it's over 70 or 80 per cent of (Ireland's milk formula) exports go to China.
'That's very good for the Chinese people. Also, we can expand the market for the dairy products for adults - not only for the infants.
'It's a very big market; we have 1.4 billion people and we also have 400 million middle class consumers. You can expand all of your products in these markets.'
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Ambassador Xiyuan, said that, in the past 16 years, Ireland and China have had a very good relationship in terms of trade.
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'Last year's statistics show that we have over a trade volume of over €20 billion.'
Meanwhile, last year the European Union voted to adopt definitive tariffs on battery electric vehicles form China.
The EU first announced that it would impose higher tariffs on Chinese electric vehicle imports in June of last year, on the ground that they pose a 'threat of economic injury' to electric vehicle producers in Europe.
The EU maintains that they benefit 'heavily from unfair subsidies.' There has also been suggestions of serious human rights violations.
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