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footing in solving the trade issues, China also believes that there are prin

ciples to be observ▓ed in any cooperation and there is a bottom line that ▓can

not be crossed. Since May, the US has inc▓reased tariffs on 200 billion dollars’ worth of Chine

se products and put new restrictions ▓on Chinese enterprises doing business i

n America. China responded by imposing additional tariffs on US products and

announcing the plan to establish a list of unreliable entities. China’s government also said th

▓at it wouldn’t tolerate foreign high-tech ▓products made from rare ea

rths produced in China bei▓ng used to contain and suppress the country’s

develop▓ment. These resolute measures have clearly demonstrated China’s will and determination

to safeguard its national core interests. The US side should not make any misj

udgment on this respect.China and t▓he US are now highly intertwined with each

other in th▓eir common interests. The two economies a▓re also highly complementary to each other. Both

sides stand to lose in continuing the trade war.

  • JULY 18, 2010
    he highest sincerity. T▓he two sides did make a lot of progress. Howeve

  • JULY 18, 2010
    r,▓ the US side made three U-turns on their promises▓ and continued to

  • JULY 18, 2010
    escalate the trade tensions through tariff▓s, which caused grave setba

There can be no winner. But they hav

e a lot to gain if the

y choose to coope▓rate. There&rsquo

;s plenty of evidence to show that it

is the US importers who will pay▓ for the higher tariffs, rather than Chinese exporters. The Wall Street Journal has reported that the US imports 82 percent of its mobile phones fr▓om China, 94 percent of its laptop computers, 85 perc▓ent of its tri

cycles and scooters as well as 98 percen

t of its games consoles. And that is w

hy at the recent public hearing in Washington DC, 303 out of the ▓314 representatives from various industrial sector▓s in the US voiced their opposition to the Trump administration's proposed additional tariffs of up t▓o 25 percent on some 300 billion U.S. dollars' worth o

f Chinese imports. Stephen Roach, a se

nior fellow ▓at Yale University, recent

ly put his finger on it, ▓by saying that the US government has a "basic misunderst▓anding of how tariffs work".Earlier this month, the Japanese government published a white paper on trade, which sounded alarm bells over trade protectionism and pointed out that exces▓sive trade restr

iction measures will hinder global econo

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