(ECNS) — China’s Common Administration of Customs (GAC) on Monday known as on america to cancel its “reciprocal tariffs,” urging a return to resolving commerce variations via mutual respect and equal dialogue.

Information exhibits that the essence of China-U.S. financial and commerce relations is one in all mutual profit and win-win cooperation, which is the results of financial legislation and has robust endogenous energy, mentioned Wang Lingjun, vice minister of the GAC, citing a white paper launched by China’s State Council Info Workplace on April 9.

Wang famous that within the first quarter this yr, the bilateral commerce between China and the U.S. continued to develop, with imports and exports reaching 1.11 trillion yuan, a rise of 4 % year-on-year, regardless of of the U.S. authorities’s indiscriminate tariffs.

The U.S. has introduced tariffs on all its buying and selling companions underneath varied pretexts, together with China, which might inevitably have a destructive influence on world commerce, together with the bilateral commerce between the 2 sides, he mentioned.

Wang confused that the U.S. is exploiting “reciprocal tariffs” to subvert the present worldwide financial and commerce order, prioritizing its pursuits above the worldwide widespread good.

“Its act is financial bullying, which has severely violated WTO guidelines, undermined the rules-based multilateral buying and selling system, and gravely threatened the steadiness of worldwide financial order,” the vice minister mentioned.

There isn’t any winner in a commerce struggle and no manner out for protectionism, he mentioned, including that China has resolutely taken countermeasures and can proceed working with all events to collectively oppose U.S. tariff bullying and hegemony, and defend the multilateral buying and selling system and financial globalization.

(By Zhang Dongfang)