China-US Agree Will Not Perform Trade War

JAKARTA -Chinese Vice Prime Minister Liu He said China and the United States had reached agreement on trade and economic issues, and committed not to trade war.

Liu, who arrived in Washington, USA on Tuesday (15/05/2018), led a Chinese delegation in a continued economic meeting with the United States. A week earlier, US Treasury Secretary Steve Mnuchin led a US delegation to meet with Panda State representatives in Beijing.

Published By Xinhua, Sunday (20/5), Liu said both parties agree not to conduct a trade war and stop the action of retaliating rate. This is called the best deal of the two countries’ talks.

He explained the main reason this agreement refers to the previous agreement between Chinese President Xi Jinping and US President Donald Trump. In addition, the interests of Chinese and US citizens and the international community are fundamental reasons.

“This partnership is a win-win choice because it can promote China’s high-quality economic development, meet the needs of society, and contribute to US efforts to reduce its trade balance deficit,” said Liu.

He claims the two countries will also strengthen cooperation in investment and intellectual property protection. Thus, it not only benefits both countries, but also supports economic stability and prosperity as well as global trade.

Liu stressed that China, with a large class of menengan, would be the world’s largest market. The Chinese market will be very competitive, so the producer countries that want to penetrate it must have competitiveness as well as competitive services.

“China is not only ready to buy goods from the US but also from around the world,” he added.

However, Liu continued, it should be understood that it takes time to resolve the structural problems in terms of bilateral economic and trade relations. He also asserted that in the future, China and the United States must resolve the differences through dialogue and calm.

Source : Xinhua