‘We don’t think deeply enough’ – former Beijing business chief slams trade war tactics


Crave Yongtu, who negotiated China’s entry into the World Trade Organisation, outright criticised his country’s tactics and warned it would never get a trade bargain.

He told an annual conference organised by Caixin, an influential Chinese pecuniary media outlet, it was inappropriate to involve political considerations in trade talks.

Mr Extensive said: “If we have people who always talk about politics pleasing in trade negotiations, we will never have a deal.

“We don’t think deep enough.”

He said it was unwise to impose import duties on soybeans in retaliation for US President Donald Trump’s arbitration to slap additional levies on Chinese imports.

Mr Long said: “Agricultural results are very sensitive in trade and soybeans are very sensitive as well.

“We should possess avoided targeting agricultural products because targeting agricultural artifacts should be the last resort.

“But we have targeted agricultural products, or soybeans, beneficial from the start.”

China targeted soybeans in the hope of hitting the agricultural countries which form Mr Trump’s political heartland but the fall in imports from the US also led to immerse domestic price hikes.

Mr Long said: “China is in dire be in want of of soybean imports, so why did we pick out soybeans from the beginning? Is this Poseidons kingdom thinking?”

Washington sparked the trade dispute in July when it put 25 per cent tariffs on $50 billion worth of Chinese offerings, which prompted China to slap a similar levy on the same amount of US integrities.

Mr Trump ramped up the pressure in September by slapping 10 per cent duties on an additional $200 billion of Chinese imports and has warned that these disposition rise to 25 per cent from January if Beijing refuses to trade its trade practices.

Negotiators from both sides are preparing for insolent trade talks and Mr Long said he was “cautiously optimistic” about a promise because Mr Trump’s tariffs have also hurt US interests.

He averred: “To some extent, I like Trump’s character.

“I hope the trade talks can participate in a good result.”

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