China, US trade talks should be based on equal footing

  • Tuesday 14, May 2019 10:51 AM
Sharjah 24 – Reuters: The trade talks between China and the United States are still faced with issues that need to be carefully treated and solved, said Chinese Foreign Minister Wang Yi on Monday.
Wang said at a joint press conference with his Russian counterpart Sergei Lavrov in Sochi that China's action is to uphold both its rights and interests and the basic rules of the multilateral trading system.

"Under this circumstance, we think it's meaningless to point fingers at one another, and passing the buck is even less acceptable. The attempt to exert extreme pressure can only trigger legitimate countermeasures. The measures China takes are not only to safeguard our rightful interests, but also to preserve the basic rules of the multilateral trading system," Wang said.

Wang stressed that the negotiation is not a one-way street and it should be carried out at an equal footing. China must safeguard its sovereignty, uphold people's interests and defend national dignity when negotiating with other countries, and that is the principle and baseline.

Wang said that the bilateral trade relations are not only related to the development of China and the United States, but also linked with the prospect of the global economy.

As long as the negotiations conform to the common and long-term rights and interests of the two peoples, the negotiation teams of both sides are capable and have the wisdom to well handle their reasonable needs and finally reach a mutually beneficial and win-win agreement, Wang said.

China on Monday announced that it will raise the rate of additional tariffs imposed on some of the imported U.S. products from June 1.

The decision came after the U.S. move to increase tariffs on 200 billion dollars' worth of Chinese goods from 10 percent to 25 percent as of May 10.