(Yicai Global) March 15 -- Economic and trade cooperation need not be a trade-off competition or a zero-sum game, and China has repeatedly stressed that it firmly opposes any unilateral trade protectionism. If the US side does impose tariffs on Chinese imports, China will firmly safeguard its legitimate rights and interests, said Lu Kang, spokesman for China's foreign affairs ministry.
President Trump wants to impose up to USD60 billion in tariffs on Chinese imports to ignite a trade war pursuant to his America First policy. The punitive duties will target the technology and telecom sector, say US government sources, as Lianhe Zaobao reported yesterday.
The import duties may materialize soon, and up to 100 products will likely appear on the US blacklist, per the report.
Reciprocal benefit is the essence of economic and trade cooperation between China and the US and the development of bilateral economic and trade relations has brought tangible benefits to the two countries' people and companies over the past 40 years, Lu said. For differences and frictions in economic and trade cooperation to arise between the world's two largest economies is only natural but managing these in a constructive manner by expanding cooperation, properly addressing the key concerns of both sides, and promoting the healthy and stable development of bilateral economic and trade cooperation is crucial, he added.