Chinese Commerce Minister: China Will Not Surrender to Bullying, Economy Capable of Facing Trade Challenges
On Thursday, Chinese Commerce Minister Wang Wentao stated that China will not “surrender to bullying” and that its economy is capable of handling the challenges, including the new tariffs imposed by U.S. President Donald Trump. The minister emphasized that “there are no winners in any trade war,” stressing that China rejects coercion and threats.
Calls for Dialogue with the United States
Minister Wang, speaking on the sidelines of the Chinese People’s Congress meetings, added that China continues to call for dialogue with the United States to resolve trade disputes. He pointed out that China is a key trade partner for approximately 140 countries, providing many alternative options for exports outside of the U.S. market. “Coercion and threats will not work with China and will not scare us,” he said, reaffirming that China is committed to defending its economic interests.
Tariffs and Escalating Trade Tensions
It is noteworthy that the Trump administration has imposed new tariffs on China twice since his inauguration, first at a rate of 10% last month, and then doubling it to 20% this past Tuesday. In response, China imposed tariffs of 10% and 15% on a range of U.S. agricultural exports and imposed restrictions on several American companies.
China Ready for Dialogue
Despite the escalating trade war, the Chinese minister confirmed that his country remains open to dialogue with the U.S. to settle trade disagreements. He stated, “We can meet at an appropriate time, and our teams can start communications as soon as possible.” He also emphasized that blaming China for the fentanyl issue in the U.S., which Trump has claimed was the reason behind the tariffs, will not solve the problem.
Economic Challenges and Ongoing Support for Businesses
Minister Wang acknowledged that Chinese exporters are facing significant economic challenges. However, he noted that China is encouraging companies to participate in trade fairs and expand their global presence. The Chinese government is also increasing financial support to fund exports, while striving to grow in e-commerce and service trade sectors.
Wang confirmed that China is working to enhance free trade agreements with countries worldwide, stressing that the country does not place all its eggs in one basket. “We continue to diversify our global markets,” he said.
Sources:
- Statements by Chinese Commerce Minister Wang Wentao
- International News Agencies