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BEIJING. – In speculation over future development of China-US trade relations after President Donald Trump’s signing of a memorandum to impose heavy tariffs on Chinese imports, the US side should be aware that arrogance is no way leading to good business.
Despite risks of harming interests of China and the United States itself, Trump on Thursday signed the executive memorandum that could result in heavy tariffs on up to $60 billion of imports from China as well as harsher restrictions on Chinese investments. Meanwhile, Trump also announced a 25 percent tariff on steel imports and a 10 percent tariff on aluminium earlier this month, triggering global criticism on his trade bullying move.
The trade protectionist policies adopted by Washington have severely violated basic trade rules built by the international community in the past several decades, and were also ruining the international image and status of the world’s biggest economy.
China and the United States are each other’s key trade partners. After decades of cooperation, they are no longer able to draw a clear line between their interests.
Despite competition, the two economies are remarkably complementary to each other and their relationship has been seen as a story of mutual benefit.
China has always advocated win-win cooperation and negotiated settlement of disputes. However, it will never remain silent when its rights and interests are damaged by other countries. – Xinhua.
Online Reporter