Commentary: China responds to U.S. tariff proposals tit-for-tat

Source: Xinhua| 2018-04-04 22:18:10|Editor: Yamei
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BEIJING, April 4 (Xinhua) -- The U.S. government unveiled its tariff proposals, but the results may not be what it wished for. While hurting others, the move will cost the country dearly.

The United States will eventually feel the pain as its actions are typical unilateralist and protectionist practice, completely unfounded and against World Trade Organization (WTO) rules.

The U.S. administration has announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion U.S. dollars with a suggested tariff rate of 25 percent.

In response, China unveiled a list of products worth 50 billion U.S. dollars imported from the United States that will be subject to additional tariffs, including soy beans, automobiles and chemical products.

By deciding to impose additional tariffs of 25 percent on 106 U.S. products, China has chosen to safeguard its legitimate interests, but with restraint.

At a press conference held Wednesday afternoon, vice ministers of finance and commerce reiterated China's stance of not wanting and not fearing a trade war.

Self-willed and impulsive actions should be avoided by both countries, they noted, warning losses would hit both sides if a trade war begins.

Market responses have justified China's concerns as U.S. agricultural futures plunged across the board.

If the U.S. administration insists on going on its own way, not only will the interests of the Chinese be damaged, but U.S. consumers, retailers and industries will also suffer.

Ever more regrettable, the move will give the world a stronger impression that the U.S. government abuses international rules whenever it wants.

If a person is domineering and reckless, people know they had better keep that person at a distance. While the U.S. continues to behave waywardly in the world's economic arena, it makes trouble for itself.

The U.S. government wants to diminish its trade deficit. But how could it fix that problem if it blames everything on trade parters such as China?

No country can solve their domestic economic woes or job losses by ruining its cooperation with major trade partners. Trade wars will only make things worse.

China was forced to take countermeasures on Wednesday, but it also gave some solutions. Like vice commerce minister Wang Shouwen said, China hopes the United States will loosen its control over high-tech exports, increase its own savings ratio and actively respond to China's measures in import expansion.

China will not be afraid or back down if a trade war is unavoidable. The country has never surrendered to external pressure, and it will not surrender this time either.