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Despite disruptions and the impact of the US abuse of tariffs, bilateral trade between China and the US continued to grow in the first quarter of this year, with total imports and exports reaching 1.11 trillion yuan ($152 billion), marking a 4% year-on-year increase, said Wang Lingjun, deputy director of the General Administration of Customs, on Monday, in response to a question at a press conference regarding the possibility of decoupling in the two countries’ trade sector.

China on Wednesday released a white paper entitled China's Position on Some Issues Concerning China-US Economic and Trade Relations, presenting a wealth of facts and data to demonstrate that the China-US economic and trade relationship is fundamentally mutually beneficial and a result of market forces, with strong endogenous momentum, Wang said.

The US has imposed tariffs on all its trading partners, including China, under various pretexts. This inevitably has a negative impact on global trade, including trade between China and the US, Wang said.

The so-called “reciprocal tariffs” pursued by the US side undermine the established international economic and trade order by prioritizing American interests over the common good of the international community. This is a typical act of tariff bullying and constitutes a serious violation of WTO rules. It severely damages the rules-based multilateral trading system and poses a grave threat to the stability of the global economic order, Wang stressed.

There are no winners in a trade war, and protectionism leads nowhere. The actions of the US government have drawn widespread opposition around the world. China has taken firm countermeasures and will continue to work with all parties to jointly oppose the US' tariff bullying and hegemonic practices, and to uphold the multilateral trading system and economic globalization. “We urge the US to immediately correct its erroneous approach and resolve trade differences through equal dialogue based on the principle of mutual respect,” Wang noted.

Global Times