China accuses US of trade disputes and "unacceptable demands" | 1 NEWS NOW



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China today issued a report accusing the United States of being at the origin of a trade dispute and stating that it would not retreat on "major issues of principle".

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.

"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 in the amount of 250 billion US dollars and plans to tax the 300 billion dollars of imports that have been spared up to now .

This month, Chinese telecommunications giant Huawei also skyrocketed on a blacklist banning US companies from providing IT chips, software and other components without government approval.

Beijing responded by imposing tariffs on US goods worth US $ 60 billion, which came into effect yesterday.

He also reacted against Huawei's US blacklist by announcing Friday the establishment of his own list of "unreliable entities" made up of foreign companies, corporations and individuals.

Published in eight languages, today's report sets out China's argument that Washington can be blamed for the friction and resulting costs to both sides.

"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 leeway for fiscal and monetary policies to preserve the health of the Chinese economy despite friction," he added.

Wang Shaowen, deputy minister of commerce and deputy international trade representative, said China was forced to "take strong action in response" to US equities and denied that China would reverse its previous commitments.

"It is irresponsible of the United States to accuse and discredit 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".

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