As tensions rise in the ongoing US-China tariff war, China's State Council Information Office has released a white paper titled "China's Position on Some Issues Concerning China-US Economic and Trade Relations." The document aims to clarify China's stance and reaffirm its commitment to stable economic ties with the United States.
Describing the US as the world's largest developed economy and China as the largest developing one, the 52-page paper underscores the importance of China-US trade for global economic stability. It notes that trade between the two nations grew from under $2.5 billion in 1979 to nearly $688.3 billion in 2024, highlighting the decades of cooperation that have supported both countries' development.
However, the report blames recent disruptions on what it calls "US unilateralism and protectionism." According to the State Council, the US has imposed tariffs on over $500 billion worth of Chinese goods since trade tensions began in 2018, while pursuing broader policies aimed at curbing China's growth. China, it says, has taken necessary countermeasures and remained open to dialogue.
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The white paper also references the 2020 Phase One trade deal, claiming China fulfilled its obligations despite global disruptions like the pandemic. It accuses the US of breaching commitments and tightening restrictions on Chinese firms through export controls and new sanctions.
In its latest move, the US unveiled the America First Trade Policy Memorandum and slapped additional tariffs—some tied to fentanyl concerns—on Chinese sectors including maritime, logistics, and shipbuilding. A new 50% increase on existing duties further inflamed tensions.
The Chinese government argues that such actions go against principles of free trade and multilateralism, disrupt supply chains, and ultimately hurt the global economy—Americans included.
"China-US economic and trade relations are mutually beneficial," the report states. "Differences between two major countries are natural, but resolving them through dialogue and mutual respect is essential."
The white paper seeks to "set the record straight" as both sides dig in deeper, leaving global markets watching anxiously for what comes next.
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