Chinese Ministry of Commerce: China and the United States should avoid new trade and investment restrictions
China News Agency, Beijing, April 23 (Reporter Li Xiaoyu) Chinese Ministry of Commerce spokesperson Gao Feng said on the 23rd that China and the United States should take the opportunity of implementing the first phase of the Sino-US economic and trade agreement as an opportunity to reduce the unstable factors in the bilateral economic and trade relations To avoid new trade and investment restrictions.
A report recently released by the US-China National Trade Commission stated that before the Sino-US economic and trade friction occurred, China has been the fastest growing market for US exports. From 2010 to 2017, the increase in US trade exports to China was as high as 41.8%, much higher than the 19.4% increase in U.S. exports to other regions. However, due to trade frictions, U.S. exports to China have declined sharply in the past two years. In 2019, U.S. merchandise exports to China fell by 11.4% to 104.8 billion U.S. dollars.
In this regard, Gao Feng said at a news conference held on the same day that this proves once again that there is no winner in the trade war, Sino-US cooperation benefits both, and fighting hurts both.
He emphasized that China and the United States should take the opportunity of implementing the first-phase economic and trade agreement between China and the United States to move towards each other, strengthen cooperation, manage differences, strive to reduce unstable factors in bilateral economic and trade relations, and avoid new trade and investment restrictions. Promote the healthy and stable development of bilateral economic and trade relations. (Finish)