|
Responding to a reporter's question about U.S. President-elect
Donald Trump's plan to impose 60% tariffs on imports from China,
Vice Commerce Minister Wang Shouwen said that would "not solve
the country’s own trade deficit problem.”
“On the contrary, it pushes up the prices of the country’s
imports from China and other countries,” Wang said during a news
conference, noting that increased prices add to inflation.
China is willing to talk with the U.S. on a basis of mutual
respect, for the benefit of both countries, Wang said.
“We believe that if China and the U.S. can maintain a stable,
healthy, and sustainable development trend in economic and trade
relations, it will be beneficial (to everyone),” he said.
Wang noted that China's total foreign trade including imports
and exports reached 36 trillion yuan (nearly $5 trillion) in
January-October, up about 5% from the same period of 2023.
Despite the upbeat message, the threat of higher tariffs,
following on increases during Trump's first administration and
additional hikes in import duties by the administration of
President Joe Biden, threatens to add to Beijing's woes as
China's ruling Communist Party struggles to revive growth and
reverse a downturn in the property market and deal with mounting
local government debts and high employment among Chinese youths.
A 60% duty on Chinese imports could shave off 2.5 percentage
points, or about half, of China’s projected economic growth,
according to an analysis published earlier this year by UBS.
During Friday's news conference Wang and other officials
outlined ways that China is promoting expanding trade and
support for coping with climate change.
Such measures include streamlining customs and visa
requirements. China allows visa-free travel for citizens of 29
countries, including France and Germany, and the number of
foreign visitors, which plunged during the pandemic, has jumped
this year.
Of the nearly 8.2 million foreign visitors in July-September,
more than half entered using visa-free channels, said Tong
Xuejun, an official with the Foreign Ministry's consular
department.
All contents © copyright 2024 Associated Press. All rights reserved
|
|
