China urged US President Donald Trump on Friday to ease controls on the export of high-tech goods aimed at stemming the trade deficit he has repeatedly complained about.
China urged US President Donald Trump on Friday to ease controls on the export of high-tech goods aimed at stemming the trade deficit he has repeatedly complained about. “If the US can relax its control on high-tech exports to China and also create a level playing field… for Chinese investment in the US, that will also be helpful in addressing the trading imbalance between two countries,” Vice Foreign Minister Zheng Zeguang said, following Trump’s latest criticism of Beijing. On Thursday, Trump tweeted that the upcoming meeting with his Chinese counterpart, Xi Jinping, “will be a very difficult one”, Efe news reported.
“We can no longer have massive trade deficits and job losses. American companies must be prepared to look at other alternatives,” he explained.
His remarks came a few hours before the Chinese Foreign Ministry held a press conference to talk about Xi’s upcoming visit to Mar-a-Lago, Florida, where the highly anticipated meeting between the two leaders will be held.
“China does not seek trade surplus and it is not our intention to stimulate exports through competitive currency devaluation, it is not our policy,” the Chinese minister added.
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Zheng said relations between the two countries are based on “mutual benefit” and that Chinese investment in the US has created jobs in the North American country.
Despite Trump’s remarks, the minister tried to send out a positive message, and said that both sides are hoping that the summit, which will be held on April 6-7, is a success.
Zheng also called for an objective analysis of the China-US commercial relationship and attributed the imbalance to the different economic structures of the two countries and other global factors.
When asked by reporters if China would be willing to lift its restrictions on the internet to allow US companies such as Google or Facebook to do business in the Asian country, Zheng said China is “open to foreign investment”.
“We welcome foreign companies to explore the Chinese market in accordance with the law,” he added.