China responds to Trump's claim of 60 percent tariffs
On November 22, The State Council Information Office held a regular briefing on the policy of The State Council. Wang Shouwen, International Trade Negotiator and Vice Minister of the Ministry of Commerce, and relevant officials of the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People's Bank of China and the General Administration of Customs introduced relevant policies and measures to promote the steady growth of foreign trade and answered questions from journalists.
A reporter asked: "When Trump was running for president of the United States, he said he planned to impose 60 percent tariffs on China. How much impact do you think this will have on Chinese exports? What do you think of this phenomenon?"
In response, Wang Shouwen said: "The Chinese economy has shown very strong resilience, great potential and full of vitality. We are building a new development pattern with the domestic cycle as the mainstay and the domestic and international cycles reinforcing each other. We are capable of defusing and resisting the impact of external shocks."
He argues that history has shown that a country imposing tariffs on China does not solve the country's own trade deficit; on the contrary, it drives up the price of the country's imports from China and from other countries. Because the final tariff is paid by consumers and end users in the importing country, it inevitably leads to an increase in prices paid by consumers, higher costs for users, and higher prices leading to inflation.
Wang Shouwen stressed: "China and the United States are the two largest economies in the world, and the two economies are highly complementary. We believe that if China and the United States can maintain a stable, healthy and sustainable development of economic and trade relations, it will serve the interests of the Chinese people, the American people and people around the world, which is also the expectation of the international community. Based on the principles of mutual respect, peaceful coexistence and win-win cooperation, we are willing to engage in active dialogue with the US side, expand cooperation areas, manage differences and push for steady and long-term growth of bilateral economic and trade relations. At the same time, China will firmly safeguard its sovereignty, security and development interests. "
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