The U.S. is wrong about proposed tariff against China

Updated 2018-04-05 09:13:04 Xinhua

As the Chinese saying goes, it is only polite to reciprocate.

Hours after the U.S. administration announced proposed tariffs on products from China worth some 50 billion U.S. dollars, China unveiled countermeasures on Wednesday targeting the same value of U.S. goods.

This marked rare trade tensions between the world's top two economies, and may trigger a trade war if worse comes to worst.

China has stated it has the confidence and ability to deal with any U.S. protectionist measures, pledging to fight till the end if a trade war breaks out.

TIT-FOR-TAT RESPONSE A MUST-DO

The unilateral measures by the United States against China under its domestic Section 301 investigation fly in the face of international norms.

China has showed sincerity in seeking solutions through dialogue.

"However, the United States has repeatedly missed the best opportunities for an appropriate solution," China's Foreign Ministry spokesperson Geng Shuang said on Wednesday at a press conference.

At another press briefing, also on Wednesday, China's Vice Minister of Commerce Wang Shouwen said, "We don't want a trade war, but we are not afraid of it. If someone insists on starting a trade war, we will fight till the end."

"If people want to play tough, we will play tough with them, and see who will last longer," Chinese Ambassador to the United States Cui Tiankai said in late March.

In the eyes of Tu Xinquan, a professor with the University of International Business and Economics in Beijing, the U.S. move is "a very dangerous signal."

"Although 50 billion U.S. dollars of goods is not a big deal in bilateral trade, it is highly possible that such a vicious cycle will get worse," Tu told Xinhua.

The findings of the U.S. Section 301 investigation are a willful distortion of facts and full of selective assertions and allegations, turning a blind eye to the actual progress that China has achieved in market-oriented reforms, opening-up and enhanced intellectual property protection.

China's confidence and strength have improved by overcoming difficulties and dealing with pressure over 40 years of reform and opening-up, Geng said.

"MADE IN CHINA 2025" NO THREAT

Which of the world's top two economies has a more powerful manufacturing industry?

When responding to reports saying the U.S. tariff list targeted products that benefit from the "Made in China 2025" action plan, Geng said that the plan aims to turn China into a great power in manufacturing. However, "There is nothing wrong with strengthening our own manufacturing capability."

The United States, with the world's leading technology and manufacturing capabilities, should be more confident and compete fairly, rather than imposing unilateralist, protectionist measures, he added.

Sharing Geng's views, experts say the United States retains its lead in indigenous innovation and basic research, in which China has a long way to catch up.

The United States is panicking when faced with a rising China with advanced manufacturing prowess, but this is largely unnecessary, Song Guoyou, a U.S. studies professor with Shanghai-based Fudan University, told Xinhua.

As a national initiative, China put forward the "Made in China 2025" program in 2015 to sharpen manufacturing capabilities in industries ranging from robotics to high-performance CT scanners.

"The West believes the plan aims to replace high-tech imports with domestic products. In my view, it is a big mistake," Tu Xinquan said.

"It is not exclusive or unilateral and brings opportunities for cooperation," he added.

The program covers many sectors that cannot be done by China alone. Instead, different countries need to participate, as each of them plays a part in the chain.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 20 2018 05:55:36

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 20 2018 05:55:36

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 20 2018 05:55:36

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords