NOTE: The following report appears in both International Trade Today and Export Compliance Daily.
China, US Stand to ‘Lose From Confrontation,’ Foreign Ministry Says of Trump’s Remarks
Economic cooperation between China and the U.S. is “win-win in nature,” a Chinese Foreign Affairs Ministry spokesperson said Aug. 21. “Our interests have become deeply intertwined.” He was responding to President Donald Trump's lengthy remarks at the White House accusing…
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China of “ripping this country off for 25 years.” American companies do $700 billion in annual sales and make $50 billion in annual profit in China, the spokesperson said. “If one party has been ripping off the other, it would not have been possible to have the highly complementary, deeply integrated and mutually beneficial relationship that we have today.” China and the U.S. “stand to gain from cooperation and lose from confrontation,” he said. “There is nothing to fear in having differences on trade.”