US Trade Deficits to China Grows Bigger, Chinese Unhappy About it
The Chinese government hit back on the Obama-administration over an old trade dispute, saying that the US failed to honor the deal it has promised with China during the G20 summit.
China’s representatives said that US continues to tax its tyre exports despite an agreement that it would lower the tariffs.
The Chinese government on Sunday said that it will conduct a probe over the possible “unfair practices” in United States government in its car parts and chicken meat exports as the rift between the two world-superpowers grow bigger.
In an interview, Chinese Foreign Ministry Spokeperson Jiang Yu said that the US government’s imposition of tariffs on Chinese products only showed unfair practices by the Americans, adding that it is a “grave form of protectionism.”
“The trade officials of the US failed to honor its commitments with China, which it has issued during the G20 financial summit. The US administration also abused trade patch measures discussed in the summit. This kind of ‘grave protectionism’ will only undermine the relationship between the US and China in terms of economic and trade agreements,” she said.
Not only will the trade and economic deals will get affected, according to Yu; will also have a great impact on the recovery of the world economy.
“China hereby expresses strong opposition and discontent to the decision of the US government,” Yu added.
It will be recalled that China has earlier said that it will conduct a probe over US’s exports as the Americans continued to impose tariffs on Chinese’s type products. Some 10, 000 Chinese will be out of job if the tax continues to be implemented while China’s deficit will grow to more than $1 billion.
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