The best response to U.S. economic bullying is to foster growth and strength in companies in developing countries, Chinese high-level official concluded.
China's Commerce Ministry spokesman Gao Feng announced his country will take all necessary measures to safeguard the rights and legitimate interests of Chinese companies and demanded the United States correct its "wrongful actions."
"If the U.S. wants to continue trade talks, they should show sincerity and correct their wrongful actions. Negotiations can only continue on the basis of equality and mutual respect," he said and added that "we will closely monitor relevant developments and prepare necessary responses."
No further trade talks between top Chinese and U.S. officials have been scheduled since May 10, when the U.S. government hiked tariffs on US$200 billion worth of Chinese goods.
Earlier this week U.S. retaliations continued as President Donald Trump included Huawei and its subsidiaries on a blacklist to force it to apply for authorization if it seeks to buy U.S. technology.
Gao said that the Asian county is opposed to the use of state power to repress Chinese companies and demanded fair treatment and non-discrimination in order to operate normally. He also rejected the "National Security" concept as it is used by U.S. officials to impose trade restrictions.
Trump’s golf alone costs US taxpayers 3 X more than Obama’s did. His golf excursions cost the country far more than the Mueller report did; he’s exploded our National Deficit with his spending & costing consumers billions with Trade war. These are facts @realDonaldTrump pic.twitter.com/yNbp98gJnO— Sherry Cooper (@sherrycooper61) May 24, 2019
Besides seriously damaging trade cooperation between companies of both nations, such measures represent a great threat to global industrial chains, the Chinese spokesperson explained.
"We urge the U.S. to stop its wrongful actions and create conditions for trade and cooperation between entities of the two countries and prevent further blows to bilateral economic and trade ties."
The Chinese government, Gao reminded, asks Chinese firms to comply with international standards, and also calls for an environment conducive to develop their businesses in other territories without barriers.
The best response to U.S. economic bullying is to foster growth and strength in companies in developing countries, concluded the Chinese spokesman.