The Ministry of Commerce of China File photo: VCG

 

China's Ministry of Commerce (MOFCOM) on Sunday urged the US to take a significant step in correcting its mistakes and completely cancel the wrong practice of "reciprocal tariffs".

The comments were made after the US on April 12 released a relevant memorandum to exempt computers, smart phones, semiconductor manufacturing equipment, integrated circuits and other products from "reciprocal tariffs". 

A spokesperson of MOFCOM said on Sunday that China is evaluating the relevant impact. 

The spokesperson said this is the second adjustment to the relevant policies since the US suspended the imposition of high "reciprocal tariffs" on some trading partners on April 10 and it should be said that this is a small step for the US to correct its unilateral "reciprocal tariff" erroneous practice.

The implementation of so-called "reciprocal tariffs" through an administrative order not only contravenes fundamental economic and market principles but also disregards the complementary cooperation and supply-demand relationships between nations. Since the introduction of "reciprocal tariffs" on April 2, it has not only failed to resolve any issues for the US but has also severely disrupted the international trade order, significantly interfering with normal business operations and people's consumption, ultimately harming others without benefiting itself, the spokesperson said. 

China's position on China-US economic and trade relations is consistent. There is no winner in a trade war, and there is no way out for protectionism, the spokesperson noted. 

There is an old Chinese saying, "The person who tied the bell must untie it." We urge the US to face up to the rational voices of the international community and domestic parties, take a significant step in correcting its mistakes, completely cancel the wrong practice of "reciprocal tariffs", and return to the right path of mutual respect and resolving differences through equal dialogue, the spokesperson said.

Global Times