China looks into resolving US trade tension

Shanghai Newspaper_China looks into resolving US trade tension

Two weeks before the trade talks between China and the USA, Vice Commerce Minister Wang Shouwen expressed how hopeful he is that it will be resolved with a calm and rational attitude.

On October 11-15, anew round of high-level talks between the world’s two largest economies is expected t transpire in Washington with Vice Premier Liu He spearheading the Chinese delegates.

For over a year now, the two countries have been involved in a developing trade war. The United States and China have levied punitive duties on hundreds of billions of dollars of each other’s goods, roiling financial markets and threatening global growth.

After China’s National Day holiday, Liu would go to Washington for the talks a week after. The details were revealed in a news conference by Wang, who has been part of China’s negotiating team with the US.

Wang has expressed his hopes that both sides would find ways to resolve their differences believing that this would benefit both countries’ people and the world as a whole. Wang has emphasized that China will open more sectors of the economy to foreign investors and that it will still stick with its policy of protecting foreign companies’ rights in the country.

It was revealed earlier that Chinese companies faced many difficulties due to the trade frictions which apparently resulted to unprecedented trade challenges to the country, according to Commerce Minister Zhong Shan.

China is reported to expand imports and strengthen measures to stabilize trade that would yield positive results.

Wang Yi, the Chinese government’s top diplomat said that tariffs and trade disputes could lead the world into recession, hence China was committed to resolving it in a calm, rational and cooperative manner.