China denies “theft” and criticizes US rhetoric

China countered the US allegations of economic “theft” and called for the end of the trade war, stating that bilateral ties benefit both countries

Calling economic ties between China and the USA “theft” and seeking absolute reciprocity in trade goes against the most basic economic sense, a spokesman for China’s Foreign Ministry said on Monday, asking the United States to end his trade war.

According to Xinhua, spokeswoman Mao Ning made the comments in response to a question about the repeated allegations of US Treasury Secretary Scott Bessent that China’s economy is overly dependent on exports and that the American side seeks fair and reciprocal trade relations.

At a daily press conference, Mao said trade between China and the US, as it is now, is the result of market forces with multiple factors at stake, including economic structures and commercial policies of both countries, as well as the position of the US dollar.

China never seeks a commercial surplus and actually the United States has benefited significantly from trade with China, she added.

“If you look at the share of statistics, exports of US companies based in China are also told as China’s commercial surplus. High quality products at reduced cost exported by China to the United States have essentially increased the purchasing power of US consumers and created a huge amount of jobs in the United States, particularly in sectors such as transportation, wholesale, retail and e -commerce, ”said Mao, adding that the United States continues to have a huge surplus in service trade.

She noted that commercial and economic ties between China and the USA benefit both sides. “If one was stealing the other, there would be no way like the ties arrive as far as we see today.”

The spokesman emphasized that labeling economic ties such as “theft” and demanding absolute reciprocity challenges basic economic logic, and those who do this are underestimating the judgment of US companies and consumers.

“For years and years since the United States started the trade war against the rest of the world, but that did not prevent US commercial deficit from increasing and reaching $ 918.4 billion last year,” Mao said, noting that whether, whether a tariff war or a trade war, they invariably start hurting others before returning to those who started.

It’s time for the United States to learn the lesson and end this wrong practice, the spokesman added.