Logo of Phnom Penh Post newspaper Phnom Penh Post - China calls on US to remain ‘cool-headed’ over trade war

China calls on US to remain ‘cool-headed’ over trade war

China calls on US to remain ‘cool-headed’ over trade war

China’s top envoy called on the United States to remain “cool-headed” Thursday as Washington threatened to raise the tariff rate on the next $200 billion of Chinese imports.

Slapping additional tariffs on Chinese imports – 60 percent of which are made by foreign firms, including American companies – will only raise costs for domestic US consumers, said Chinese Foreign Minister Wang Yi.

“We hope that the trade policy makers in the United States will be cool-headed and listen to the voice of US consumers... and also pay attention to the voice in the international community,” Wang said.

“The US has no regard for the world... playing both soft and hard ball with China will not have any effect, and only serve to disappoint the countries and territories opposed to a trade war,” China’s Ministry of Commerce said in a statement, adding that it still hopes to turn the situation around.

President Donald Trump asked the US Trade Representative to consider increasing the proposed tariffs to 25 percent from the planned 10 percent, USTR Robert Lighthizer said on Wednesday.

“We have been very clear about the specific changes China should undertake. Regrettably, instead of changing its harmful behaviour, China has illegally retaliated against US workers, farmers, ranchers and businesses,” Lighthizer said in a statement.

Officials, however, downplayed suggestions the move was intended to compensate for the recent decline in the value of the Chinese currency, which has threatened to take much of the sting out of Trump’s tariffs by making imports cheaper.

The US dollar has been strengthening since April as the central bank has been raising lending rates, which draws investors looking for higher returns.

Washington and Beijing are locked in battle over American accusations that China’s export economy benefits from unfair policies and subsidies, as well as theft of American technological know-how.

Trump has threatened to slap tariffs on virtually all of China’s exports to the United States.

Officials said they remained in regular contact with their Chinese counterparts but could announce no new meeting.

Wang, who is in Singapore for a foreign ministers’ meeting, said the spat will not affect diplomatic cooperation with Washington on North Korea.

In a tweet last month, US President Donald Trump suggested that China could be undermining a North Korean denuclearisation deal because of the ongoing trade war.

MOST VIEWED

  • Government hits back at threats to pull EBA, suspend UN seat

    The spokesman for the ruling Cambodian People’s Party (CPP) has said the government is in no way concerned after the European Parliament gave it three months to reverse what it called the “systematic repression of the political opposition”. Ignoring the ultimatum could mean facing

  • EU parliament’s 13-point vote to decide on possible sanctions

    The European Parliament is due to vote on Thursday on a 13-point resolution on Cambodia – which includes a call for the treason charges against bailed opposition leader Kem Sokha to be dropped – a threat that could see the EU enforce a range of sanctions against

  • Chinese influx pushing locals, Westerners out of Preah Sihanouk

    Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise. Preah Sihanouk province, which has become a hotbed for Chinese investment

  • Sar Kheng: Sokha requested security

    Interior Minister Sar Kheng on Sunday revealed the story behind the transfer of former opposition party leader Kem Sokha from Trapaing Phlong prison in Tbong Khmum province to his house in the capital. Speaking at the ruling Cambodian People’s Party (CPP) headquarters in Prey