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Wednesday April 24, 2024

China stands up for free trade

By REUTERS
June 02, 2018

BEIJING: China reiterated its commitment to the global trade order on Friday, hours after Washington imposed new tariffs on imports from key allies and a day before U.S. Commerce Secretary Wilbur Ross was due in Beijing for talks to avert a trade war.

While many countries share U.S. frustration over Chinese trade and economic practices, critics of U.S. policy under President Donald Trump have warned that Washington risks alienating the European Union, Canada and Mexico with 25 percent tariffs on steel and 10 percent on aluminium.

"All countries, especially the major economies, should resolutely oppose all forms of trade and investment protectionism," foreign ministry spokeswoman Hua Chunying told a regular media briefing, when asked about the U.S. move.

This weekend´s trade talks come as Washington is engaged in fragile negotiations towards what would be a historic summit between Trump and North Korean leader Kim Jong Un, whose main diplomatic backer is China.

Ross, who was preceded in Beijing this week by more than 50 U.S. officials, is expected during a two-day visit starting on Saturday to press China to commit to buying more U.S. agriculture, energy, and other products to narrow the $375 billion trade deficit.

While U.S. officials have sent conflicting signals during the dispute with China, one person familiar with planning for Ross´ visit said the aim was to keep dialogue going.