The Financial Express

China rebukes Trump’s claims over trade talks

| Updated: May 22, 2019 11:16:20

China rebukes Trump’s claims over trade talks

China's Foreign Ministry on Tuesday refuted claims by US President Donald Trump that US tariffs are forcing foreign companies to leave China and a potential trade deal should be more in favour of the US side, describing Trump's comments as inaccurate and politically motivated.

"The US side often releases some information to the domestic [audience] for political purposes, and sometimes it does not even take into account the actual situation," Lu Kang, a spokesperson for the ministry, told a routine press briefing.

Lu was responding to a comment made by Trump in an interview with US network Fox News, in which the president claimed that some companies were shifting their production from China to Vietnam and other Asian countries because of US imposing higher tariffs on Chinese goods, reports Global Times.

Lu said that though the US' actions, which violate global trade rules, will bring disruptions to global markets, including China and the US, companies will make investment decisions based on their economic outlook.

"Despite the US' constant threats to slap tariffs on Chinese goods, foreign investors remain optimistic China," Lu said.

Lu listed recent investments by big foreign companies, including US oil company Exxon Mobil, electric carmaker Tesla and German carmaker BMW.

Lu also pointed out that a recent survey by the Japan External Trade Organization showed the Chinese market ranked No.1 in terms of Japanese companies' strategies for exports, investment and cross-border e-commerce. Chinese and foreign business also signed deals worth $64 billion at the Belt and Road Forum for International Cooperation in April.

"All these developments show that, against the backdrop of uncertainties and instabilities in the world economy, foreign companies have shown their attitude through action and expressed their firm confidence in the Chinese economy," he said.

Lu also refuted a claim by Trump that a potential trade deal between China and the US must be more in favour of the US rather than a 50-50 deal because of China's past trade practices.

Lu argued that it is "unrealistic" for two economies to open up based on "absolutely equal terms" and any trade deal must be balanced and mutually beneficial.

Despite the harsh talk on Tuesday, Lu also commended an upcoming China-US governors' collaboration forum in the US state of Kentucky.

"The active participation of Chinese and US local governments in this forum shows their sincere hope to strengthen exchange and cooperation," he said.

"I believe the forum will inject new impetus for deepening China US friendship and strengthening cooperation with the two countries."

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