Chinese Minister Says China and US Trade War Not an Option

| Feb 22, 2017 07:32 AM EST

Commerce Minister Gao Hucheng said that a U.S.-China trade war is not an option.

In a recent press briefing, Chinese Minister of Commerce Gao Hucheng said that both the United States and China should not even think of engaging in a China-U.S. trade war.

He said that the two countries should "resolve issues through negotiation" and look for a solution that will be beneficial to both countries.

Gao said, "We recognize that cooperation will lead to win-win (for both sides), while confrontation will only result in mutual losses." No matter how U.S. policy on China shifts, Sino-U.S. trade ties will eventually return to a "win-win" track."

"Cooperation benefits both, while confrontation can only hurt," he said.

President Trump made pronouncements that he intends to increase tariffs on Chinese products by 45 percent and impose restrictions that will affect U.S.-China trade. These statements have created concern among world leaders.

Gao added, "If you review the history of Sino-U.S. trade ties, you can say that despite experiencing stormy conditions, we have always been moving forward."

However, China is also prepared to fight if they are pushed, according to the commerce minister.

He said that China will assess U.S. tariff policies and react accordingly. China will also act to protect Chinese companies as stated by regulations of the World Trade Organization.

The minister said that China is the largest market for American goods in Asia.

U.S. companies have invested $80 billion in China, while Chinese companies have spent almost $50 billion in the U.S., which created 100,000 jobs in the country.

Gao also explained that there were times in the past that both countries were able to resolve differences through dialogue. He cited the case in 2010 when the U.S. senate accused China of currency manipulation.

"Cooperation is the only correct option for the two countries," he said.

China is looking forward to the U.S.'s participation in the One Belt, One Road initiative and carries on agreements from the G20 Summit in Hangzhou.

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