China denies U.S. economic 'rip off' accusations, calls for cessation of trade war
A spokesperson for the Chinese Foreign Ministry stated on Monday that characterizing China-U.S. economic relations as a "rip-off" and insisting on strict reciprocity in trade contradicts fundamental economic principles. The spokesperson urged the United States to put an end to its trade conflict.
TroibNews 
A spokesperson for the Chinese Foreign Ministry responded on Monday to claims from U.S. Treasury Secretary Scott Bessent, who characterized the economic ties between China and the U.S. as a "rip-off" and called for absolute reciprocity in trade. The spokesperson argued that such views contradict fundamental economic principles and urged the U.S. to put an end to its trade war.
Mao Ning addressed the issue during a daily press briefing, specifically referencing Bessent's assertions that China's economy overly depends on exports and that the U.S. is seeking fairer and more reciprocal trade relationships. Mao explained that the current state of China-U.S. trade is influenced by market dynamics, which include both nations' economic structures, trade policies, and the role of the U.S. dollar.
According to Mao, China does not aim for a trade surplus, and in truth, the U.S. has greatly benefited from its trade with China. "If you look at the breakdown of statistics, the exports of China-based U.S. companies are also counted as China's trade surplus. The high-quality products at reduced cost exported by China to the United States have essentially raised the purchasing power of U.S. consumers, and created a huge amount of jobs in the United States, particularly in sectors such as transport, wholesale, retail and e-commerce," she explained, pointing out that the U.S. maintains a substantial surplus in trade services.
Mao emphasized that both countries reap benefits from their trade and economic relationship, stating, "If one had been ripping the other off, there is no way the ties would have come this far as we see today."
She criticized the notion of labeling the relationship a "rip-off" and the demand for absolute reciprocity as fundamentally flawed, suggesting that such views underestimate the judgment of American businesses and consumers.
"It's been years and years since the United States initiated the trade war against the rest of the world, yet it has not stopped U.S. trade deficit from going up and reaching $918.4 billion last year," Mao remarked, highlighting that tariff and trade wars typically inflict initial harm on others before returning to impact the initiator.
Mao concluded by stating that it is time for the United States to heed its lessons and abandon these misguided practices.
Aarav Patel contributed to this report for TROIB News
Mao Ning addressed the issue during a daily press briefing, specifically referencing Bessent's assertions that China's economy overly depends on exports and that the U.S. is seeking fairer and more reciprocal trade relationships. Mao explained that the current state of China-U.S. trade is influenced by market dynamics, which include both nations' economic structures, trade policies, and the role of the U.S. dollar.
According to Mao, China does not aim for a trade surplus, and in truth, the U.S. has greatly benefited from its trade with China. "If you look at the breakdown of statistics, the exports of China-based U.S. companies are also counted as China's trade surplus. The high-quality products at reduced cost exported by China to the United States have essentially raised the purchasing power of U.S. consumers, and created a huge amount of jobs in the United States, particularly in sectors such as transport, wholesale, retail and e-commerce," she explained, pointing out that the U.S. maintains a substantial surplus in trade services.
Mao emphasized that both countries reap benefits from their trade and economic relationship, stating, "If one had been ripping the other off, there is no way the ties would have come this far as we see today."
She criticized the notion of labeling the relationship a "rip-off" and the demand for absolute reciprocity as fundamentally flawed, suggesting that such views underestimate the judgment of American businesses and consumers.
"It's been years and years since the United States initiated the trade war against the rest of the world, yet it has not stopped U.S. trade deficit from going up and reaching $918.4 billion last year," Mao remarked, highlighting that tariff and trade wars typically inflict initial harm on others before returning to impact the initiator.
Mao concluded by stating that it is time for the United States to heed its lessons and abandon these misguided practices.
Aarav Patel contributed to this report for TROIB News
