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China issued a report Sunday accusing the United States of being at the root of a trade dispute and saying it would not back down on "big issues of principle" without however, specify additional steps to take to speeding up.
The statement from the Office of the Cabinet Spokesperson stated that China had kept its word in eleven rounds of negotiations and that it would respect its commitments if a trade agreement was reached. He accused the United States of falling three times during the negotiations by introducing new tariffs and other conditions beyond what had been agreed.
"But the more the US government is offered, the more it wants," he said, accusing US negotiators of "resorting to intimidation and coercion."
"The sovereignty and dignity of a country must be respected and any agreement reached by both parties must be based on equality and mutual benefit," he said.
The United States has accused China of stealing trade secrets and forced technology transfers. The Trump administration has imposed 25% tariffs on Chinese imports to the tune of $ 250 billion and plans to tax the $ 300 billion worth of imports saved so far. It has also compounded the stakes this month by placing Chinese telecommunications giant Huawei on a blacklist prohibiting US companies from providing it with computer chips, software and other components without government approval.
Beijing reacted by imposing a $ 60 billion tariff on US products, which came into effect on Saturday. She also fought back against Huawei's US blacklist by announcing on Friday the establishment of her own list of unreliable entities made up of foreign companies, corporations and individuals.
Wang Shouwen, deputy minister of trade and deputy international trade representative, said China would soon release more detailed information on the list of unreliable entities, but said the list was aimed at companies that "violate the principles of market "and reduced the supply of components to Chinese companies. commercial reasons.
These actions have affected China's national security and the public interest, he said.
"So for these practices, these companies will be included in our list of unreliable entities," said Wang, adding that the importance of this list should not be "overinterpreted".
China's statement that it intends to publish such a list follows further steps taken last week that strengthened US sanctions imposed on Chinese electronics giant Huawei in mid-2006. may.
Several major US-based global technology standardization groups have announced restrictions on Huawei's participation in their activities under US Commerce rules, banning the sale and transfer of US technology to Huawei without government approval.
Wang also reiterated that China could restrict the export of exotic minerals known as rare earths widely used in electric cars and mobile phones. Among them, lithium, the main component of modern batteries.
The threat of using China's rich rare earth resources as leverage in the conflict has led to sharp losses in US equities and a decline in long-term bond yields.
"If some countries use China's rare-earth metals to make products to contain China's development, this is unacceptable to spirits and hearts," said Wang.
Published in eight languages, Sunday's report exposes China's argument that one could blame Washington for the frictions and resulting costs for both parties.
"Whatever the future brings, China is confident of tackling the challenges head-on, turning risks into opportunities and opening new chapters," he said. "China remains committed to its own cause, no matter the changes in the external environment."
"We still have enough room for maneuver in fiscal and monetary policy" to maintain the health of the Chinese economy despite friction, he added.
Wang said China was forced to "take strong action in response" to US equities and denied that China has backtracked on its previous commitments.
"It is irresponsible on the part of the United States to accuse and defame China," Wang said.
In the negotiations "nothing is agreed until everything is agreed," Wang said. He added that the United States had made unacceptable requests, including tariffs and mandatory requirements contrary to Chinese sovereignty.
He said about American tactics: "You give them an inch, they take a meter".
President Donald Trump touted tariff increases as a way to reduce China's trade surplus with the United States, which had reached $ 379 billion last year. However, Wang asked how much China is actually taking advantage of its surpluses, saying that a joint US-Chinese. A study showed that the US figure could be inflated by 20%.
He also said that many of these exports were produced by foreign companies operating in China and that Chinese companies often only received a relatively modest amount for badembly. "Subtracting the US surplus in trade in services with China, the real surplus was only $ 152.6 billion last year, Wang said.
The US deficit with China has actually worsened since the first imposition of tariffs, Wang said, pointing to a 50 percent decline in soybean exports to China and a drop in sales of soybeans. American automobiles in the country. Meanwhile, the American family will pay $ 831 more for consumer goods because of higher tariffs, he added, while the consequences of the conflict for businesses could cost 2.23 million jobs in the USA.
"This shows that the intensification of trade restrictions has hurt American workers," Wang said.
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