Today, Sunday, China published a comprehensive statement on the US trade war. The mood between the two parties is heated and Beijing has recently threatened to blacklist US companies as well. In its statement, China makes it clear that the “US government would be responsible for setbacks in trade talks.” America has also introduced additional tariffs on Chinese goods that would hinder economic cooperation between the two countries.
While it is “commonplace” for both sides to propose “adjustments to the text” in ongoing negotiations, the US government has repeatedly changed its demands in past talks. The words of China, however, make it clear that the country does not want a trade war with the US, but one is also not afraid if it should come to one.
Beijing’s position on trade talks has never changed. They argue that cooperation serves the interests of both countries and conflicts can only hurt both. Differences and friction remain on the economic and trade front between the two countries. But China is ready to work with the US to conclude a “mutually beneficial agreement”. However, cooperation must be based on principles and must not jeopardize China’s core interests, the statement said. The published statement also addresses issues that are at the heart of the ongoing US-China trade dispute, including China’s dealings with intellectual property rights. There are US allegations against China for IP theft, which the country dismisses as “an unfounded invention.” It is also said that China has made great efforts in recent years to protect and enforce IP rights. Also, pay the US a sizeable sum for the licensing of intellectual property rights. China also agrees that bilateral investment between the two countries would be mutually beneficial and would not undermine US interests, taking into account “trade in goods and services and investment in both directions” ,