Jul 16, 2019
The ministry of commerce held a regular press conference today, and spokesperson Gao Feng responded to several hot issues concerning china-us economic and trade consultation. Gao Feng confirmed that the economic and trade teams of the two countries will resume economic and trade consultations on the basis of equality and mutual respect as required by the consensus reached at the meeting of the two heads of state in Osaka. Referring to the U.S. 's recent decision to lift tariffs on 110 Chinese goods that had previously been subject to 25 percent tariffs, gao said that this is a normal process for the U.S. to exclude tariffs. China has also established a corresponding tariff exemption mechanism, which will be processed according to enterprises' applications.
The two sides will resume economic and trade consultations on the basis of equality and mutual respect
On the evening of July 9, leaders of the china-us high-level economic and trade consultation held a telephone call to exchange views on implementing the consensus reached at the meeting of the two heads of state in Osaka. The economic and trade teams of the two countries will resume economic and trade consultations on the basis of equality and mutual respect as required by the consensus reached at the meeting of the two heads of state in Osaka.
Gao pointed out that China's position on the consultation is consistent and clear, and China's core concerns must be properly addressed. We believe that through dialogue on an equal footing and accommodating each other's legitimate concerns, the two sides will find a solution to the problem. This serves the interests of the two countries and peoples, as well as the interests of the whole world and its people.
The reporter also asked whether China and the United States have agreed on the starting point for the talks. What were the specific differences that led to the breakdown of negotiations in May?
Gao said the white paper on China's position on china-us economic and trade consultations, released in early June, had given a detailed explanation of the reasons for the previous setbacks. The economic and trade teams of the two countries are in communication on implementing the consensus reached at the meeting between the two heads of state in Osaka.
It is a normal tariff procedure for the us to lift tariffs on 110 Chinese goods
Referring to the recent decision of the United States to lift tariffs on 110 Chinese goods that had previously been subject to 25% tariffs, gao said that this is a normal tariff procedure of the United States, and China has also established a corresponding tariff exemption mechanism, which will be processed according to the application of enterprises.
China and the United States have a strong complementarity in the field of agricultural trade
In response to the reporter's question "whether there is an exchange relationship between huawei's export license and China's purchase of us agricultural products", gao pointed out that China and the us have strong complementarity in the field of agricultural products trade, and there is a huge space for cooperation. Trade in agricultural products is an important issue to be discussed between the two sides. It is hoped that the two sides can find a solution to the issue on the basis of equality and mutual respect.
In response to huawei's continuing us control list: stop cracking down on Chinese companies
The reporter asked whether the us has not removed huawei from its entity 'blacklist'. In response, gao said that China has taken note of the us statement and noted that huawei and other Chinese entities are still on the us export control entity list. China urges the United States to truly honor its commitment and stop using state power to suppress Chinese companies as soon as possible.
He stressed that there had been no large-scale exodus of foreign capital from China
Some media asked about the recent news that some foreign companies have started to move out of China to invest in China for fear of reprisals due to the impact of china-us economic and trade frictions.
"We have noticed the concerns of some foreign companies," gao said. "as far as we know, there is no large-scale withdrawal of foreign investment in China." Gao stressed that China will not crack down on foreign companies or discriminate against them. China will firmly protect the legitimate rights and interests of all foreign companies in China and create a more stable, fair, transparent and predictable investment environment for foreign companies.
On the first anniversary of the U.S. trade war with China: there are no winners in a trade war
Some journalists mentioned that July 6 marks the first anniversary of the us trade war against China. Recent figures from the us-china trade commission show that Chinese exports to the us have fallen by more than $18bn over the past year, accounting for 3 per cent of China's total exports to the us. U.S. exports to China fell by $23 billion, or about 15% for the year, so they think the damage is worse.
In response, gaofeng said that over the past year, all parties concerned about the impact of china-us economic and trade frictions have carried out a number of calculations and assessments. The results are similar, proving once again that no one wins in a trade war. Unilateral protectionist measures taken by the us will ultimately harm its own interests.
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