The Ministry of Commerce Photo: VCG

China has maintained close communication with the team from US Department of Commerce through the established bilateral communication mechanisms and is also open to engaging with the new US administration’s economic and trade team, He Yadong, a spokesperson for China’s Ministry of Commerce (MOFCOM), said at a press briefing on Thursday.

He made the comments in response to a question about whether trade teams from China and the US have established communication after US President-elect Donald Trump’s nomination of Howard Lutnick as Secretary of Commerce, and whether the US has made new remarks about Trump’s plan to raise tariffs on all Chinese goods by an additional 10 percent.

China maintains its opposition to unilateral tariffs, He stressed. “We are committed to enhancing dialogue and cooperation with the US based on mutual respect, peaceful coexistence, and win-win collaboration, to effectively manage differences and promote the long-term stability and growth of bilateral economic and trade relations,” He said.

On November 7, Foreign Ministry Spokesperson Mao Ning reiterated that there is no winner in a trade war, nor will the world benefit from it.

History has shown that raising tariffs on Chinese goods cannot resolve the tariff-imposing country's trade deficit; instead, it leads to higher prices for imported products and inflation, with the burden ultimately falling on consumers, China International Trade Representative and Vice Minister of Commerce Wang Shouwen said at a press conference on November 22.

As the two largest economies in the world, China and the US have highly complementary economies, Wang said, adding that if the two can maintain stable, healthy, and sustainable economic and trade relations, it will benefit their people and the global economy. 

Global Times