It’s the last time China and the U.S. will have high-level trade talks with Barack Obama in the White House. But apart from recent accomplishments, China has real concerns moving forward-as Donald Trump prepares to become the next U.S. leader.
CCTV’s Sean Callebs has more on the Joint Commission on Commerce and Trade meeting in Washington, DC.
China expresses concern over free trade under Trump at JCCTIt’s the last time China and the U.S. will have high-level trade talks with Barack Obama in the White House. But apart from recent accomplishments, China has real concerns moving forward-as Donald Trump prepares to become the next U.S. leader.
China is praising the progress made between the world’s two largest economies over the past eight years.
“We are pleased to note in recent years despite a sluggish global economy and global trade—china-US economic cooperation and trade has defied the downward trend, maintained steady growth and produced many highlights,” said Wang Yang, the Chinese Vice Premier.
China’s Vice Premier noted, at the annual gathering of the 27th U.S.-China Joint Commission on Commerce and Trade held in Washington, that bilateral trade between the U.S. and China has grown 4.8 percent over the last three years…
With Chinese investment directly responsible for creating 100,000 U.S. jobs. China is now the United States’ largest trading partner – with U.S. investment in China up more than 20 percent this year.
But with all the positives – there is concern on the horizon, as U.S. President-elect Donald Trump prepares to take office.
China is praising the progress made between the world’s two largest economies over the past eight years. But at the recent JCCT meeting, there’s no question China is looking forward to the incoming administration of President-elect Donald Trump.
Throughout the U.S Presidential campaign, Trump railed against China, saying the U.S. was losing jobs because of U.S.-China trade policies
And he labeled China a currency manipulator – an accusation China’s delegates at the JCCT said is not backed up by facts.
Trump is also promising to hammer China with a 45-percent tariff on goods coming into the United States as a way to chip away at the massive U.S. trade deficit.
China joined the World Trade Organization in 2001 – and could take its case to the WTO.
“I think after Mr. Trump takes office, he will be reminded that the US should honor its obligations as a member of the world trade organization,” Zhang Xiangchen, Assistant Minister of Commerce said.
Trump has threatened to try to pull the United States out of the WTO.
It’s clear from the meeting that China wants to move to a market-based economy. But U.S. officials said at this point – there’s too much Chinese government control in China’s economy.