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China issues white paper on China-US trade talks stance

The trade war between China and the US has escalated in recent weeks. Photo/CGTN.

BEIJING, China Jun 2 – The United States should take entire responsibility for the setback in economic and trade consultations with China, a Chinese government white paper has said.

The US government has backtracked on its commitments in the China-US trade negotiations and should bear the sole and entire responsibility for the stalled talks, the paper said. The State Council Information Office released the white paper, titled China’s Position on the China-US Economic and Trade Consultations, on Sunday.

Speaking at a news conference, Vice-Minister of Commerce Wang Shouwen said the US accusations of China reneging on the agreement are groundless. When consultations are in progress, it is not uncommon for both sides to propose for adjustments to the text of an agreement, Wang said.

“Nothing is agreed until everything is agreed,” he said. Wang said the US government has been unreasonable in negotiations with China.

For example, it insisted on including certain requirements concerning China’s sovereign affairs in the agreement, he said. The Ministry of Commerce announced recently that China will establish a list of “unreliable entities” – a blacklist of foreign parties that harm the interests of Chinese companies.

Details about the list will be announced soon, Wang said.

The white paper devotes three sections to elaborate on the damages of the trade frictions provoked by the United States, the US backtracking on its commitment in the consultations, and China’s commitment to credible consultations based on equality and mutual benefit.

Since it took office, the new US administration has used trade deficit and intellectual property as excuses to frequently provoke economic and trade frictions and unilaterally imposed additional tariffs against China, forcing China to take strong measures to defend its interests, Chinese vice-commerce minister Wang Shouwen said at a news conference in Beijing Sunday.

Here are the highlights of the white paper:

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• China does not want but is not afraid of a trade war
• US-imposed tariff measures harm others and are of no benefit to itself
• US-provoked trade friction perils entire world
• US accusation of China IP theft, forced technology transfer unfounded
• China-US trade, investment are mutually beneficial
• US backtracks on commitments in China-US trade consultations
• China committed to credible consultations based on equality, mutual benefit
• China will not give ground on issues of principle
• No challenge will hold back China’s development
• Cooperation is only correct choice for China and US

[This article was first published by China Daily].

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