Beijing white paper outlines China's trade stance before retaliatory strike on US
China has unveiled a comprehensive framework reaffirming its stance on trade ties with the United States, warning that its tariffs would 'ultimately backfire', while still leaving the door open for 'equal-footed dialogue' between the countries.
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The white paper, released by the State Council Information Office on Wednesday against the backdrop of an escalated trade war, outlines China's position on key issues – highlighting the 'mutually beneficial nature' of China-US trade; voicing support for free trade; warning against the harms of unilateralism and protectionism; and urging dialogue to resolve disputes.
'History and reality have shown that raising tariffs will not solve the US' own problems,' China's Ministry of Commerce said in a response released along with the white paper on Wednesday, urging Washington to immediately lift 'unilateral measures' and enhance dialogue.
'Instead, it triggers market volatility, fuels inflation in the US, erodes its industrial base, and increases the risk of its economic recession – ultimately, the US will only suffer the consequences itself.'
The document was released before China announced the imposition of a fresh 50 per cent tariff on all American imports in response to a 50 per cent tariff hike on its goods from US President Donald Trump.
For other countries, this is an important assurance and stance to stabilise the global trade situation
Xu Weijun, South China University of Technology
This is the third time since the trade war erupted in 2018 that China has issued a white paper, according to Xu Weijun, a researcher with the South China University of Technology's Institute of Public Policy in Guangzhou, adding that 'the intended audience is not just the US'.
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