China reiterated that its economic cooperation with the U.S. is highly complementary as the bilateral trade between the two countries increased by 23.4 percent in the first 10 months of 2021.
“The bilateral economic and trade cooperation is in the fundamental interests of the two countries and their peoples, and is also conducive to the recovery of the global economy,” said Shu Yuting, spokesperson, Chinese Ministry of Commerce spokeswoman on Thursday.
The world’s two largest economies have been mired in a trade war for more than three years, harming U.S. businesses. The prolonged differences prove the former U.S. President Donald Trump’s claim, “trade wars are good, and easy to win” wrong.
The punitive tariff is “a failed policy that needs to be reversed,” Neil Bush, founder of the George H.W. Bush Foundation for U.S.–China Relations, told ECNS.
“My view of the tariffs is: it was such a stupid idea to start with – raising…