Market News International:

Trade tensions between China and the U.S. have escalated recently. What specific impact will this have on China-U.S. trade? Is there a possibility of the two nations decoupling? How will China respond?

Wang Lingjun:

Thank you for your questions. On April 9, the Chinese government released a white paper titled China's Position on Some Issues Concerning China-U.S. Economic and Trade Relations. You may have read this document. This white paper, supported by extensive facts and data, demonstrates that the core of China-U.S. economic and trade relations is mutual benefit. It reflects economic laws at work and possesses strong internal momentum. In the first quarter of this year, despite disruptions and impacts from the U.S. government's reckless and arbitrary tariffs, China-U.S. bilateral trade still grew, reaching a total import and export volume of 1.11 trillion yuan, a 4% increase.

The U.S. has imposed arbitrary tariffs on all trading partners, including China, under various pretexts. As previously noted, this will inevitably have a negative impact on global trade, including China-U.S. trade.

The U.S. side's so-called "reciprocal tariffs" overturn the existing international economic and trade order by prioritizing U.S. interests over the shared interests of the international community. This constitutes typical tariff bullying, represents a serious violation of WTO rules, severely undermines the rules-based multilateral trading system, and significantly destabilizes the global economic order.

There are no winners in a trade war, and protectionism is no path forward. The U.S. government's actions have sparked widespread opposition worldwide. China has taken firm countermeasures and will continue working with all parties to jointly oppose U.S. tariff bullying and hegemonic behavior. It will also work to defend the multilateral trading system and economic globalization. We urge the U.S. side to immediately correct its misguided actions and resolve trade disputes through equal dialogue based on the principle of mutual respect. Thank you.