As per the reports, top trade representative of China wanted to lower tensions with the United States, saying the conflict among the biggest economies of the world should be resolved through slow dialogue. Liu He, Vice Premier of Smart China Expo 2019 said at the opening ceremony that, they are prepared to solve the problem through cooperation and consultation with a quiet attitude. He added that, the growth of trade war is firmly opposed by them and it is not favorable to the United States, China and the welfares of people worldwide.
Liu said, all foreign investors, comprising those from the United States were welcomed by China, and policy makers will maintain to build a promising environment and shielding property rights. He stressed that to guarantee the economic fundamentals of the nation possess good momentum, abundant macro-policy tools are embrace by China. Recently, it was exposed by China to execute more tariffs on seventy-five billion dollars of goods of US, warning Trump to proclaim even higher prices of Chinese goods and call for American firms to pull out of largest economy of Asia.
Liu spoke at an affair engrossed on high-tech trades such as artificial intelligence, big data, 5G, and semi-conductors. He said that, protectionism and technology blockades are opposed by China, and is focusing hard to keep the extensiveness of supply chains. Recently, it was said by Trump that, current 25 percent tariffs on some 250 billion dollars in importations from China would increase to 30 percent in the upcoming October 1, which is the 70th anniversary of the Republic of China. According to the sources, prearranged ten percent tariffs on a further three-hundred billion dollars in Chinese goods will be overtaxed at 15 percent as a replacement for 10 percent starting with the 1st tranche on September 1.