WASHINGTON, July 19 -- Chinese Ambassador to the United States Cui Tiankai has refuted accusations by the Trump administration against China on trade, noting that only consultations based on mutual respect and trust will lead to a proper settlement of their current dilemma.
Cui made the remarks in an article published Wednesday in the daily USA Today amid trade tensions between the United States and China and other economies. The Trump administration has utilized tariff tools against Chinese goods worth tens of billions of U.S. dollars.
U.S. LOSING?
Cui said the United States' trade deficit with China does not mean it is "losing."
Rather, "thanks to the trade with China, American families have access to more, higher quality, lower cost products. In just 2017, trade with China lowered prices in the U.S. by up to 1.5 percent, saving each family $850 on average," he said.
Noting that "deficits are not products of ill-intention, nor are they necessarily bad for an economy," he added that China has never deliberately sought a trade surplus with the United States.
The surplus, at the center of U.S. arguments against China, was not produced intentionally, since "the flow of trade is determined by the market," Cui said.
"Generally, they result from how resources are allocated in a globalized economy and are natural reflections of the global value chain," he said.
"Besides some structural reasons, such as the low-savings and high-consumption rates America maintains, the role of the U.S. dollar as the international reserve currency inevitably leads to trade deficits," he said.
【国内英语资讯:Spotlight: Chinese ambassador refutes U.S. trade accusations】相关文章:
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