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US escalating trade tensions could boomerang, warns state councilor

Updated: Aug 3,2018 7:24 AM     Xinhua

SINGAPORE — The US unilateral move in dealing with trade frictions with other countries is against the historical trend, which will only boomerang on itself, State Councilor and Foreign Minister Wang Yi warned on Aug 2.

While the United States attempted to reduce imports from China by levying high tariffs on Chinese products, the move could in no way help resolve its trade imbalance as the country still needed to import products from other countries, Wang told a news conference after the China-ASEAN foreign ministers’ meeting.

“We hope that trade policymakers in the United States can calm down, carefully listen to the voices of US consumers and businesses and hear the collective call of the international community,” said the Chinese top diplomat.

“The US method of exerting pressure will not have any effect, not now, and never will,” he said.

As Chinese consumers’ demands gradually increased, China also needed to import more and more products from around the world. It was understandable that US enterprises would not want to lose the ever-expanding Chinese market, he said.

To resolve trade issues, China was willing to sit down and talk with any country, including the United States, on the basis of mutual respect and equal footing, Wang stressed.

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