Chinese trade body urges US to do away with all additional tariffs

04 Apr '22

2 min read

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The China Council for the Promotion of International Trade (CCPIT) recently urged the US government to remove all additional tariffs on Chinese goods to benefit both Chinese and US consumers and enterprises in the wake of the latter’s renewed tariff waivers for 352 Chinese items. It called for a more favourable environment for trade between businesses of both sides.

China-US economic and trade relations are essentially about reciprocity and mutual benefits, and there are no winners in a trade war, CCPIT spokesperson Yu Yi told a news conference.

Since 2018, Chinese and US businesses have taken a hit from a continued escalation of frictions in bilateral trade, according to the CCPIT spokesperson.

China's industrial and commercial community welcomed the US decision to reinstate product exclusions, as well as many US entrepreneurs who considered the move as propitious to revive normal trade between the two economies and convey a positive signal of normalizing bilateral trade ties, Yu said.

It cannot be ruled out that a small number of companies in individual countries might benefit from abnormal trade relations, "decoupling" and even geopolitical conflicts in the short term, but cooperation and development are the mainstream views of the global business community, most enterprises, employees and consumers in the world, the trade body said.

Chinese and US trade teams are maintaining normal communications, Shu Jueting, spokesperson of the ministry of commerce, was quoted as saying by state-controlled media.

As a World Trade Organisation member, the United States should align its trade policies and practices with the organization's rules, rather than pushing for unilateralism and protectionism under the guise of new trade policies and actions, Shu stated.

Fibre2Fashion News Desk (DS)

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