The United States should refrain from using the big stick of tariffs and using them as a coercive tool, China's Ministry of Commerce said on Thursday.
Spokesman for the Ministry He Yadong said this in response to a media query about the recent US announcement that it would impose "reciprocal tariffs" on its trading partners. "China is deeply concerned about this move," He said.
The spokesman noted that international trade is based on countries' resource endowments and comparative advantages and aims to promote global economic growth and enhance the well-being of people around the world.
"The 'reciprocal tariffs' proposed by the United States violate the rules of the World Trade Organisation and do not respect the balance of interests that has been established over almost 80 years of multilateral trade negotiations. The U.S. approach also ignores the significant benefits of international trade that the country has long enjoyed and is an example of unilateralism and protectionism, he said.
It will seriously damage the multilateral trading system, which relies on principles such as the most-favoured-nation principle, and disrupt global supply chains, he said.
It will also bring huge uncertainty to normal international economic and trade activities, the spokesman said, stressing that many countries have explicitly opposed the US approach.
"The trade war offers no way out and brings no winners," He said. "The United States should correct its mistakes and work with all countries to find a solution through equal consultation."
CMG/ gnews.cz - RoZ
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