ISLAMABAD (PEN) : The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) firmly opposed the U.S. decision to impose an additional 10-percent tariff on goods imported from China.
The unilateral imposition of tariffs by the U.S. is a serious violation of World Trade Organization (WTO) rules, CCCME said in a statement. It added that this move is not only unhelpful in solving its own problems, but also damaging to normal economic and trade cooperation between China and the U.S.
Noting that China and the U.S. have been engaging in close trade exchanges, which have brought tangible benefits to enterprises and people on both sides, CCCME said that the imposition of tariffs will directly increase costs for enterprises and disrupt the stability of the supply chain. It warned that this will harm not only Chinese exporters but also U.S. importers and consumers.
“Trade is not a zero-sum game, and win-win cooperation is the right way to develop,” CCCME stressed.
The Chinese machinery trade group called on the U.S. to abandon trade protectionism, resolve differences through dialogue and consultation on an equal footing, and work together to maintain an open, fair and stable international trade order.
