The Strategist

China publishes white paper on trade war with USA

06/03/2019 - 09:42

Beijing is open to trade negotiations with the United States, but is ready to "fight to the end" if necessary, the white paper emphasizes. China laid responsibility for unleashing a trade war on the United States.

twicepix via flickr
twicepix via flickr
China laid the entire responsibility for unleashing a trade war between the two countries on the United States, but at the same time expressed willingness to negotiate. “China does not want a trade war, but is not afraid of it and, if necessary, will fight to the end,” says the white paper of the State Council of the People’s Republic of China, released on Sunday, June 2.

The book states that "sovereignty and dignity of a country must be respected during negotiations, and any agreement reached by the two parties must be based on equality and mutual benefit."

The document stresses that there are certain boundaries, and China will not make concessions on "fundamental issues." The white paper also notes that China has enough resources to ensure health of the Chinese economy in the event of tensions.

The trade war between the United States and China has reached a new climax at the end of last week: on the night of June 1, China introduced new penalties against the United States in response to US sanctions against the Chinese economy. The penalties have been imposed on 5140 products from the United States in the amount of $ 60 billion.

China also threatened to limit the export of rare earth metals necessary for the production of electronics and automobiles to the United States. The United States receives 80 percent of these metals from China.

Earlier, Washington imposed higher duties on Chinese goods worth $ 200 billion.

In turn, the Chinese authorities launched an investigation into the FedEx express delivery service. The American company is accused of illegally transporting several packages to the US for Huawei customers. "FedEx has seriously violated legal rights and interests of customers," the Xinhua News Agency reported on Saturday, June 1.

Earlier, the Chinese telecommunications concern Huawei accused FedEx that the American company shipped a number of packages destined for it to the central base in the United States instead of delivering them directly to Huawei offices in Asia. FedEx apologized, assuring that the parcels were shipped to the US by accident.