China to issue white paper on trade talks with U.S. on Sunday


Titled"China's Position on the China-US Economic and Trade Consultations, the document will be released at news conference

"A country's sovereignty and dignity must be respected, and any agreement reached by the two sides must be based on equality and mutual benefit", it said. When you give the United States an inch, it takes a yard, he said.

China's Position on the China-US Economic and Trade Consultations released by the State Council Information Office, offered China's most comprehensive response yet to US accusations since talks broke down last month and clearly draws China's bottom line for potential negotiations, analysts noted.

With trade talks stalled, the dispute has intensified in recent weeks with US President Donald Trump imposing fresh tariffs on imports from China and moving to blacklist Chinese tech titan Huawei over national security concerns. The raising of tariffs escalated tensions and severely frustrated the talks, he added.

"If the USA wants to talk, we will keep the door open".

"China will not bow under pressure and will rise to any challenge coming its way", the document read, "China is open to negotiation, but will also fight to the end, if needed".

That might be an "over-interpretation", Wang said, adding that China welcomed foreign firms that operate within the law.

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It also said bilateral cooperation on goods and services trade as well as two-way investment benefits both sides, rather than hurts the USA economy.

The white paper released Sunday also pushed back on United States officials' accusations that China had backtracked during negotiations.

"China's economic development has benefited from worldwide transfer and spread of technology". Data last week showed China's factory activity shrank in May at a more severe pace than expected.

Even before the conclusion of the 2016 presidential race, trade analysts were already weighing the possibility that China might impose an embargo on us soybean imports based on protectionist rhetoric from both candidates.

Wang reiterated that China is willing to meet demand for rare earths from other countries, but it would be unacceptable if some nations used Chinese rare earths to create products that limited China's development.

Wang said the commerce ministry is investigating reports of delays in customs checks and will make efforts to speed up inspections and reduce costs for importers. Nonetheless, they've become China's most important weapon in its ever-worsening trade conflict with the U.S.

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