China denies U.S. 'rip off' economic accusations, calls for halt to trade war
A spokesperson from the Chinese Foreign Ministry stated on Monday that labeling the economic relationship between China and the U.S. as a "rip-off" and demanding complete reciprocity in trade contradicts fundamental economic principles. The spokesperson also called for the United States to put an end to its trade war.
TroibNews 
A Chinese Foreign Ministry spokesperson stated on Monday that labeling the economic ties between China and the United States as a "rip-off" and advocating for absolute reciprocity in trade ignores fundamental economic principles. The spokesperson called on the U.S. to put an end to its trade war.
Mao Ning responded to U.S. Treasury Secretary Scott Bessent's comments about China’s economy being overly dependent on exports and the American desire for equitable trade relations. During a daily press briefing, she emphasized that the current state of China-U.S. trade results from market dynamics influenced by various factors, including each country's economic structures, trade policies, and the value of the U.S. dollar.
Mao clarified that China does not seek a trade surplus and pointed out that the U.S. has significantly benefited from trade with China. She explained that, "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 also noted that the U.S. continues to enjoy a substantial surplus in trade in services.
Mao stressed that the trade and economic relationship between China and the U.S. is mutually beneficial. She remarked, "If one had been ripping the other off, there is no way the ties would have come this far as we see today."
The spokesperson reiterated that characterizing these economic ties as a "rip-off" and insisting on absolute reciprocity contradicts basic economic logic, and such views underestimate the judgment of American companies and consumers.
Mao pointed out that the trade war initiated by the United States has not curbed its trade deficit, which surged to $918.4 billion last year. She remarked, "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." She added that both tariff and trade wars ultimately inflict harm on the initiator as well.
In closing, she urged the United States to recognize its mistakes and abandon these misguided practices.
Lucas Dupont contributed to this report for TROIB News
Mao Ning responded to U.S. Treasury Secretary Scott Bessent's comments about China’s economy being overly dependent on exports and the American desire for equitable trade relations. During a daily press briefing, she emphasized that the current state of China-U.S. trade results from market dynamics influenced by various factors, including each country's economic structures, trade policies, and the value of the U.S. dollar.
Mao clarified that China does not seek a trade surplus and pointed out that the U.S. has significantly benefited from trade with China. She explained that, "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 also noted that the U.S. continues to enjoy a substantial surplus in trade in services.
Mao stressed that the trade and economic relationship between China and the U.S. is mutually beneficial. She remarked, "If one had been ripping the other off, there is no way the ties would have come this far as we see today."
The spokesperson reiterated that characterizing these economic ties as a "rip-off" and insisting on absolute reciprocity contradicts basic economic logic, and such views underestimate the judgment of American companies and consumers.
Mao pointed out that the trade war initiated by the United States has not curbed its trade deficit, which surged to $918.4 billion last year. She remarked, "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." She added that both tariff and trade wars ultimately inflict harm on the initiator as well.
In closing, she urged the United States to recognize its mistakes and abandon these misguided practices.
Lucas Dupont contributed to this report for TROIB News
