WEB DESK
China today accused the US of using extreme pressure to force Beijing to reach a deal to end the trade war. It has asserted that while it wants resolution through talks there will be no compromise on its principles.
China released a detailed White Paper titled ‘China’s Position on the China-US Economic and Trade Consultation’ outlining the long drawn out process of 11 rounds of negotiations held since last year to end the tariff war.
The Chinese government in the paper said the US tariff measures have not boosted American economic growth. Instead, they have done serious harm to the US economy.
Rebutting Trump’s accusations that China went back on agreements reached during the talks, Wang Shouwen, vice-minister of commerce who released the White Paper, said the US is putting some compulsory requirements impinging on China’s sovereignty with a rider that some tariff will remain even after the deal.
The White Paper was released a day after China hit 60 billion US dollars worth of US goods with new punitive tariffs ranging from five to 25 percent, in retaliation to the US raising punitive tariffs on 200 billion dollars worth of Chinese goods.
Meanwhile, speaking at an event in Singapore, Chinese Defence Minister General Wei said, doors are still open for talks with the US. He, however, warned that Beijing was ready to fight until the end if America wants a fight.