China’s ambassador to the US Xie Feng, has urged the US that rather than igniting a trade war, seek common ground with China, and warned the US that his country is ready to retaliate if necessary.
Speaking at a public event in Washington on Saturday, Xie emphasized that a trade war would destroy the global economy
He compared the US administration’s current behavior with regards to tariffs with the protectionist policies of the US during the Great Depression in 1930s.
Xie referred to the ancient Chinese medicine practices that combined opposing elements which complemented each other, commonly known as yin and yang, and said that similar to yin and yang, the two largest economies in the world must have a harmonious relationship.
“A good traditional Chinese medicine recipe usually combines many different ingredients which reinforce one another and creates the best medical effect,” said Xie.
“the earth is big enough to accommodate both China and the US … We should pursue peaceful coexistence rather than collide head-on, and help each other succeed rather than get caught in a lose-lose scenario,” he added.
The trade war has brought a halt to the massive trade between the world’s two largest economies, with both countries imposing tariffs of over 100%, as well as a range of trade, investment and cultural restrictions.
China’s top shipbuilding association on Saturday denounced a US plan to apply port fees to China-linked ships.
Trump said on Friday that the US has had good conversations privately with China amid the two countries’ trade war.
“By the way, we have nice conversations going with China,” he told reporters at the White House. “It’s, like, really very good.” He did not offer additional details.
China has said the US must show respect before any talks take place. Xie said that while China opposed the trade war, it would respond in kind to any country imposing tariffs on China.