Chinese, US chief trade negotiators to communicate following presidents' instructions

Chief trade negotiators of China and the United States will communicate in line with the instructions made by the two heads of state, the Ministry of Commerce (MOC) said Thursday.

Ministry of Commerce spokesperson Gao Feng attends a news conference in Beijing, capital of China, June 20, 2019. Chief trade negotiators of China and the United States will communicate in line with the instructions made by the two heads of state, the Ministry of Commerce said Thursday. [Photo/Xinhua]

Negotiating teams from both sides will earnestly implement the instructions and make preparations for the meeting of the two heads of state during the G20 Summit in Osaka, MOC spokesperson Gao Feng told a news conference.

China's fundamental principles, position and attitude on China-U.S. trade negotiations have been consistent and clear, and China's core concerns must be properly addressed, Gao said.

"We noted that parties including U.S. exporters, retailers and manufacturing enterprises had expressed objection to additional tariffs on Chinese goods and concerns over the inevitable impact of the tariffs on U.S. companies and ordinary families," Gao said when asked on comment on U.S. public hearings on proposed additional tariffs on US$300 billion worth of Chinese goods.

"There is no winner in a trade war," he said.

If the United States insists on taking unilateral trade measures on China, it will invite severe impacts on its own economic development and the well-being of its own people, Gao said.

"China firmly opposes trade bullying of unilateral additional tariffs and escalation of trade frictions, and it will take necessary countermeasures," the spokesperson said.

"We hope that the U.S. side stops its misconduct as soon as possible to avoid greater losses suffered by enterprises and consumers in both countries and causing recession-level damage to the global economy and to create the necessary conditions and environment for solving problems through dialogue on an equal footing," Gao said.

As the world's two largest economies, China and the United States have complementary economic structures, very close links and enormous converging interests, Gao added.

"We believe both sides can find ways to properly solve their problems through equitable dialogue and accommodating each other's legitimate concerns," he said.