Focusing On The Eight Key Issues Of The White Paper On Sino US Economic And Trade Consultation

The white paper on China's position on Sino US economic and trade consultation pointed out that

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The white paper pointed out that the US economic and trade frictions against China damaged the interests of the two countries and the whole world. The Sino US trade and economic consultation was seriously frustrated and the responsibility lies entirely with the US government.

Wang Shouwen said that during the negotiations, many problems raised by the United States, China has overcome difficulties and put forward practical solutions.

However, the US side went back on its feet and insisted on the unreasonable high asking price, insisting on writing some requests concerning China's sovereignty affairs in the agreement, and insisting not to cancel all the tariffs imposed since the beginning of the economic and trade frictions, and to impose pressure on the increased tariff rate, resulting in the escalation of bilateral economic and trade frictions, resulting in a serious setback in the negotiations.

The white paper introduces that since the new US government took office in 2017,

The white paper points out that the United States has gone back on its own in the Sino US economic and trade consultations.

After the US launched economic and trade frictions, bilateral trade and investment relations were affected. Both sides thought it necessary to sit down and negotiate and solve problems through consultation.

Since the start of the economic and trade consultations in February 2018, great progress has been made, and the two countries have reached a consensus on most of the contents. However, they have gone through many twists and turns.

The Sino US trade and economic consultation was seriously frustrated and the responsibility lies entirely with the US government.

Wang Shouwen responded that nothing was discussed before the agreement was reached, so there was no question of retrogression.

He revealed that the consensus reached by the two heads of state last year has been clear and agreed to cancel all tariffs imposed by both sides.

However, during the consultation, after the US side raised the question, China overcome difficulties and put forward solutions.

Wang Shouwen said that the main reason for the serious setbacks in Sino US economic and trade negotiations was that the United States increased the tariff rate of the US $200 billion export to the United States from 10% to 25%, and started the 300 billion dollar commodity tax collection procedure.

He stressed, "

The white paper points out that China once again emphasizes that

Wang Shouwen pointed out that what Chinese enterprises buy and buy overseas is entirely the decision of the enterprises. The enterprises make their own decisions, at their own risk, and the government does not participate in the specific business activities of the enterprises.

From the perspective of intellectual property rights, Wang Shouwen said that China has done a lot of work in the field of intellectual property protection, and has become an increasingly important intellectual property country.

Wang Shouwen said that China is the richest country in the world with rare earth resources, and is willing to meet other countries' normal demand for rare earth elements.

But if a country uses China's exports of rare earth products to make products, in turn, it will be hard to accept the pressure on China's development.

Wang Shouwen pointed out that there was no winner in the trade war.

The adoption of tariff measures by the United States to China not only has an impact on China, but also brings harm to the United States and will damage the global economic development.

"How much impact of trade restrictions on the US side? I think the research in the US is most convincing."

Wang Shouwen said that the US side claims that "the United States has a huge trade deficit with China, and that the US trade deficit can be reduced through trade wars".

Actually

Tariffs have also hurt the interests of American consumers. The IMF study shows that the tariffs imposed by the US on Chinese imports are basically borne by the American consumers.

The Federal Reserve Bank of New York's research is to bring $831 extra spending to every American family.

Trade friction will also put pressure on employment in the United States.

A study by us think tank "trading partners" shows that

Wang Shouwen further explained that trade restrictions would bring losses to the United States and would also have an impact on the world economy.

Trade friction has disrupted the global value chain, disrupted the world trade order and damaged the confidence of global investors.

The joint China World Trade Center conference report shows that cross-border investment in the world in 2017 and 2018 has declined, and has fallen by a two digit margin.

The US has provoked trade friction, which has further undermined investor confidence and has had a negative impact on the global economy.

Wang Shouwen disclosed that the measures will be announced in the near future.