Logo of Phnom Penh Post newspaper Phnom Penh Post - China, US should resolve issues through discussions, commerce ministry says

China, US should resolve issues through discussions, commerce ministry says

Content image - Phnom Penh Post
A US cargo ship docks at the Qingdao Port in China’s Shandong province. CHINA DAILY

China, US should resolve issues through discussions, commerce ministry says

China and the US should resolve each other’s legitimate concerns through dialogue and consultation on the basis of mutual respect and equal treatment, the Ministry of Commerce said on April 1.

Ministry spokesman Gao Feng said: “As the world’s two largest economies, the essence of economic and trade relations between China and the US is mutually beneficial and win-win.”

China always opposes unilaterally imposing tariffs, because that is not good for it, the US, or the world, he said, commenting on recent remarks by the new US trade representative.

US trade representative Katherine Tai told the Wall Street Journal that the US is not ready to lift tariffs on Chinese imports in the near future, but might be open to trade negotiations.

Responding to queries about media statements that Australia is planning to seek the World Trade Organisation’s (WTO) intervention in the wine issue, Gao said, anti-dumping duties on Australian wine were imposed in accordance with the country’s legal procedures and WTO rules.

China decided to impose anti-dumping duties ranging from 116.2 per cent to 218.4 per cent on Australian wine for a period of five years, starting on March 28. Australian wines had been subsidised and sold below market price. The subsidy rate is between 6.3 per cent and 6.4 per cent, and to avoid double taxation, China has decided not to impose anti-subsidy tax.

Investigations have shown that dumping of imported Australian wines had caused substantial damages to the Chinese wine industry, Gao said.

Tu Xinquan, professor and dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, said China has always been faithful to multilateralism and free trade.

The country is very cautious in imposing anti-dumping duties, he said, adding that it would be good if China and the US resolve disputes through dialogue and consultations based on mutual respect and equal treatment.

Tu said: “No matter, if the disputes are on tariffs or some other issues, as long as the two parties are open to dialogue and consultation, there is still hope of avoiding imposing tariffs unilaterally.”

He said China’s anti-dumping measures against Australian wines are as per established legal procedure, as evidence from the probe has demonstrated that dumping and subsidies occurred in the case of Australian wines.

Speaking about the Suez Canal blockage, Gao said China will work with other nations to smooth cross-border logistics issues so as to ensure the stability of the global industrial and supply chains.

As traffic in the Suez Canal slowly returns to normalcy, China should pay close attention to follow-up developments, he said.

Although the Suez Canal blockage has affected shipments of some Chinese enterprises, and caused fluctuations to a certain extent in related freight rates, the impact on China’s foreign trade is sudden, short-term, and limited, said Gao.

CHINA DAILY/ASIA NEWS NETWORK

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Exclusive interview with Josep Borrell Fontelles, High Representative of the EU

    CAMBODIA is hosting the 55th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings this week with top officials from the US, China, and Russia and other countries in the region slated to attend and to meet with face-to-face with their counterparts on the sidelines. In

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’

  • Siem Reap action plan for tourism in motion

    The action plan for the Siem Reap Tourism Development Master Plan (2022-2023), focusing on six priority destinations, has been implemented to boost tourism and regain pre-Covid tourist numbers in the province. The action plan sets out 17 strategies and 37 implementation activities for: Angkor Archaeological Park, Phnom