BEIJING: China has ample policy tools to offset external adverse impacts this year, and the nation is “full of confidence in maintaining sustained and healthy economic development,” Premier Li Qiang said on Tuesday as he slammed the sweeping tariff hikes by the United States on its trade partners.
The premier struck an upbeat note on the world’s second-largest economy during a phone call with European Commission President Ursula von der Leyen, amid disruptions caused by tariffs imposed by Washington.
Li reiterated that Beijing’s macroeconomic policies this year have taken into full account various uncertain factors, while reaffirming the commitment to expanding opening-up and fostering collaboration with economies worldwide, including the European Union, to share opportunities for development.
The talks followed an executive order signed by US President Donald Trump last week to impose tariffs as high as 34 percent on imports from China and 20 percent from the EU, with the US threatening to impose an additional 50 percent tariff on Chinese imports.
Washington’s abuse of tariffs on all its trading partners under various pretexts is a blatant example of “unilateralism, protectionism and economic bullying”, Li said.
He also said China’s firm response was not only aimed at safeguarding its own sovereignty, security and development interests, but also at defending international trade rules and global fairness.
“Humanity lives in the same global village, and no country can thrive in isolation. Protectionism is a dead end; open cooperation is the only true path forward,” Li said.
China and the EU, as strong advocates of economic globalization and free trade and strong supporters of the World Trade Organization, should bolster communication and coordination, expand mutual opening-up, safeguard free and open trade and investment, and ensure the stability of global supply chains, he added.
With this year marking the 50th anniversary of diplomatic ties between China and the EU, the premier also stressed China’s readiness to enhance political mutual trust with the EU and expand pragmatic cooperation.
The two sides should persist in resolving respective concerns through dialogue and consultation, with the aim of continuously advancing bilateral ties, he added.
Von der Leyen emphasized the vital importance for the EU and China to maintain consistent and stable relations, while pointing out that the US tariffs pose a severe shock to international trade, both the EU and China, and vulnerable countries. –The Daily Mail-China Daily news exchange item
