On August 27, at a seminar on how to Cope with the New Situation of China-Us trade frictions held by the University of International Business and Economics, a number of experts said that some people in the US are blatantly tramping on international trade rules by escalating trade frictions. China earnestly fulfills its international obligations and is making its economic development more resilient and vigorously countering trade bullying. Experts agreed that the us announced it would raise tariffs on about $550bn of Chinese imports, taking the average tariff rate to China well above its initial pledge of 13.1 per cent.
The President of the Court, Mr. Sang Baichuan, believes that the international economic order and rules need to be upheld by the countries of the world. In the face of US bullying, China's response is the just choice. "A trade war is bound to hurt both sides. China's counter-measures also have costs and costs, but it is worthwhile to pay the necessary costs and costs in order to promote economic globalization and maintain the international order and multilateral economic rules. China's countermeasures are an effective response to the abuse of trade protectionism and a just choice to uphold multilateral trade rules and the rights and interests of world economic development." The trade imbalance between China and the United States is the result of the United States' own economic development model and the export control of high-tech products to China. It is the result of the difference in economic structure and fair market competition between China and the United States. China and the United States should resolve economic and trade frictions through economic and trade consultations on the basis of equality and mutual respect, in accordance with the principle of mutual benefit and win-win results, in accordance with international economic and trade rules. However, the United States has lost its rationality and chose to abandon multilateral economic and trade rules and unilaterally stir up and escalate economic and trade frictions. In order to safeguard the interests of the country and its people and its right to development, and to safeguard multilateralism and economic globalization, it is reasonable for China to take countermeasures.
