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China prepared to 'defend WTO rights'

Reporter: Xia Cheng 丨 CCTV.com

11-24-2016 16:38 BJT

A two-day technical meeting of U.S. and Chinese trade officials has ended in Washington. The officials delivered a number of important messages concerning trade between the two countries. Let's take a closer look. 

China said it will defend its rights under World Trade Organization tariff rules if U.S. President-elect Donald Trump moves toward executing his campaign threats to levy punitive duties on Chinese goods.

Zhang Xiangchen, China's deputy international trade representative, said that a broad consensus of academics, business people and government officials have concluded that China is not manipulating its yuan to gain an unfair trade advantage as Trump has charged.

"Regarding tariffs, China and the US should both obey the WTO rules. I want to remind Mr. Trump of the fact that China reserves rights under the WTO rules to protect our own rights." Zhang Xiangchen said.

Trump criticized China during his election campaign. The president-elect has said he would label China as a currency manipulator soon after taking office on Jan. 20th. He has also said that he would levy duties of up to 45 percent on Chinese goods to level the playing field for U.S. manufacturers.

Trump also is walking away from the 12-country Trans-Pacific Partnership trade deal.

The WTO prohibits its members from unilaterally raising tariffs above levels that they have committed to maintain.

Chinese state-run newspaper Global Times warned last week that a 45-percent Trump tariff would paralyze U.S.-China bilateral trade.

However, the mood is much more cheerful when it comes to agriculture.
"China and the US are complementary in agriculture trade. It bodes well for both countries to maintain our food security. " said Yang Zhigang,vice director of Legal Unit of COFCO.

Chinese Premier Li Keqiang said two months ago that China is considering freeing up beef imports from the US. Analysts say agriculture is one of the most exciting areas for cooperation between China and the US. So far, more than 500 projects are being co-run by scientists and companies in China and the US.

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