China Says Hopes To Boost Trade Co-Operation With US

(MENAFN- Gulf Times)

AFP

Beijing

China wishes to strengthen economic co-operation with the United States to avoid “vicious competition”, commerce minister Wang Wentao told US Trade Representative Jamieson Greer, according to a readout released yesterday.

The two met on Thursday on the sidelines of a World Trade Organisation (WTO) ministerial conference in Cameroon’s capital, less than two months ahead of US President Donald Trump’s planned visit to Beijing.

“China is willing to strengthen multilateral and regional economic and trade cooperation with the United States,” Wang told Greer, according to a statement by the Beijing’s Ministry of Commerce.

The two powers must “properly handle the relationship between competition and cooperation” and “avoid vicious competition,” he said.

The world’s two largest economies were locked in a bitter trade battle last year before agreeing to a truce in October.

High-level talks in Paris this month between US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng also helped to ease tensions.

Nevertheless, issues including US tariffs, a trade balance in China’s favour, and US restrictions on exports of advanced technologies continue to threaten relations.

Wang expressed “grave concerns” on Thursday regarding recently announced US trade investigations signalling the possibility of fresh tariffs.

Washington’s trade investigations target 60 economies, including China, and will look into “failures to take action on forced labour” and whether these burden or restrict US commerce.

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