Beijing taking steps to avert a possible trade war with Washington
State Councillor Yang Jiechi met Rex Tillerson. High level talks could resume. The threat of new duties on Chinese exports to the US looms over the horizon. The US, Japan and Europe are frustrated.
Washington (AsiaNews/Agencies) – Chinese State Councillor Yang Jiechi is in Washington to avert a trade war with the United States.
After Donald Trump's election promises, accusations against China of currency manipulation and economic support for its exports, the United States is preparing a list of Beijing's trade violations and new tariffs. According to White House, new sanctions on Chinese products are "imminent".
The US slapped steep tariffs on imported solar panels and washing machines last month and is considering recommendations on import restrictions for steel and aluminium, plus other trade sanctions against China over alleged intellectual property theft.
For its part, China’s Commerce Ministry launched an anti-dumping and anti-subsidies probe at the weekend into imports of sorghum from the United States.
Yesterday Yang announced the resumption of talks whilst meeting US Secretary of State Rex Tillerson during a visit to Washington.
“It’s proven by fact that the nature of the Sino-US trade relationship is mutually beneficial to each other, creating huge benefits to both sides,” Yang was quoted as saying.
“Both sides,” he added, “can explore cooperation on energy, infrastructure and the Belt and Road Initiative and open up each other’s markets and handle differences appropriately.”
The US State Department said Tillerson and Yang agreed on Thursday about the importance of continuing a constructive and productive relationship, but did not mention economic talks.
Meanwhile, the United States, Japan and Europe remain frustrated by the closure of China’s markets to foreign investments, the forced transfer of technologies (through joint-ventures), and China’s subsidies to its Chinese exports, which destroy all competition.