Beijing: The success of China and the U.S. will present opportunities not threats because both share extensive common interests and a broad cooperation space, says China’s Commerce Minister, Wang Wentao. Wang made these remarks at a news conference organized on the sidelines of the Third Session of the 14th National People’s Congress (NPC) on Thursday in Beijing. He was addressing China’s strategy in response to tariff increments by the U.S. on Chinese goods, emphasizing that a trade war has no winner and protectionism leads nowhere.
According to News Agency of Nigeria, Wang criticized practices of extortion with the threat of tariffs, labeling them as unilateralism that disrupts normal China-U.S. economic and trade cooperation. Such actions, he stated, undermine stability in global industrial supply chains and impede world economic development. Wang asserted that coercion, intimidation, and extortion would not work on China due to its firm resolve to safeguard its own interests.
He further mentioned that China had implemented necessary response measures concerning the unilateral tariffs imposed by the U.S., in line with principles of international law and relevant regulations. Wang expressed belief in the mutual benefits of China-U.S. economic ties, where neither side would suffer losses at the expense of the other.
Recalling past trade figures, Wang noted that China-U.S. trade in 2024 amounted to 688.2 billion dollars, marking an 18 percent increase from 2017. Citing the China Business Climate Survey Report 2025, he pointed out that 46 percent of respondent companies planned to increase investment in 2025, with the same percentage expecting substantial profits.
Wang highlighted that Chinese corporations align with the fundamental interests of both countries, meeting international community expectations. Despite differences in economy and trade, he expressed hope for U.S.-China collaboration based on respect, peaceful cooperation, and dialogue, aiming for healthy, stable, and sustainable development of economic ties.