Pragmatic economic and trade cooperation benefits US, world: experts
With the US reportedly set to announce final implementation plans in coming days for imported Chinese electric vehicles (EVs) and other products, Chinese experts are calling on the US side to make a goodwill gesture, as pragmatic economic and trade cooperation between the world’s two largest economies benefits the US and the world as a whole.
Experts said some Western countries’ high tariffs will have a limited impact on Chinese EVs in the long term, as there is great potential for Chinese automakers to tap other overseas markets including BRICS and the Global South. They added that China has sufficient patience and resilience to overcome trade barriers put up by some Western countries.
Following US National Security Advisor Jake Sullivan’s just concluded visit to China, the Chinese Commerce Ministry said on Thursday that Beijing and Washington have agreed to hold a vice-ministerial meeting of the China-US commercial and trade working group in Tianjin on September 7.
However, amid growing talks to stabilize ties, Reuters reported on Thursday that the US’ top trade representative is expected to announce final plans in the coming days on Chinese imports, including EVs.
US Trade Representative Katherine Tai on Thursday (US time) strongly endorsed Canada’s 100 percent tariffs on Chinese-made EVs.
The Biden administration’s fresh tariff threat indicates that its green policies are flawed, Lü Xiang, an expert on US studies at the Chinese Academy of Social Sciences, told the Global Times on Friday.
“There are many businesses in the US that oppose new tariffs on Chinese products because the administration’s harmful move will impede the green transition in the US and the world,” Lü said, calling on Washington to make some kind of goodwill gesture.
Reuters reported in June that a group of 173 trade associations in the US under the “Americans For Free Trade” umbrella requested the USTR to hold a hearing on the decision to impose steeper tariffs on Chinese EVs and other goods.
Bao Jianyun, director of the Center for International Political Economy Studies at Renmin University of China, projected that the US’ potential tariffs on Chinese EVs will be one of the key topics during the upcoming meeting in Tianjin.
“It is hoped that the US can view its relations with China from a long-term perspective. As two major countries, China and the US should be responsible for the people and for the world to seek a solution that benefits both sides,” Bao said.
Despite some Western countries’ high tariffs on Chinese EV makers, there is great potential for Chinese automakers to tap other overseas markets including BRICS and the Global South, Bao said, stressing that politically-driven trade barriers cannot hinder the global opening-up and cooperation trend, and China has sufficient patience and resilience to overcome them.
GT
