China-Trade Disputes/Response

China's response to U.S. tariff hikes justified, rational: experts

  • English

Shotlist


FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
1. Various of U.S. Capitol Hill
2. Various of U.S. Department of Commerce
3. U.S. national flags on building, pedestrians, vehicles

FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
4. Various of Chinese national flag, Tian'anmen Square, Chinese national emblem

Beijing, China - Recent (CCTV - No access Chinese mainland)
5. SOUNDBITE (Chinese) Gao Lingyun, researcher, Institute of World Economics and Politics, Chinese Academy of Social Sciences (starting with shot 4, partially overlaid with shot 6):
"Under the current circumstances, we need to let our people know that tariffs are not that horrible. The decisions and measures taken by the Chinese government so far are justified, rational and effective. After half a year, we can see that the room for maneuver will come in all aspects. China's terms of trade and welfare are improving, so in fact, the U.S will suffer far greater losses than China does in the long run."

FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
++SHOT OVERLAYING SOUNDBITE++
6. Various of Tian'anmen Rostrum, Chinese national flag, Tian'anmen Square
++SHOT OVERLAYING SOUNDBITE++

FILE: New York City, USA - Date Unknown (CCTV - No access Chinese mainland)
7. Various of people shopping in apparel stores
8. Pedestrians

FILE: Washington D.C., USA - June 28, 2016 (CGTN - No access Chinese mainland)
9. Various of automobile assembly line

Beijing, China - Recent (CCTV - No access Chinese mainland)
10. SOUNDBITE (Chinese) Tu Xinquan, dean, China Institute for WTO Studies, University of International Business and Economics:
"We hope to have an equal right to negotiate, not that you can hit me, but I can't hit back. This is absolutely unacceptable."

FILE: China - Exact Date and Location Unknown (CCTV - No access Chinese mainland)
11. Various of workers, production line

FILE: Ningbo City, Zhejiang Province, east China - Date Unknown (CGTN - No access Chinese mainland)
12. Various of Ningbo-Zhoushan Port scenes, containers being handled

Storyline


China's response to the U.S. tariffs hikes is a justified and rational move as the country has the right to negotiate on an equal basis, according to experts.

Last week the United States announced the increase of tariffs on 200 billion U.S. dollars' worth of Chinese goods from 10 percent to 25 percent as of May 10. The decision was made when the latest China-U.S. trade talks were still underway. However, later the United States claimed that the setbacks of the talks were due to China reneging on its word.

China announced Wednesday that it will take necessary countermeasures if the United States puts new tariffs on imports from the country.

Gao Lingyun, a researcher with the Institute of World Economics and Politics under the Chinese Academy of Social Sciences, believes that China's response is fair and thinks the U.S. could actually shoulder more pressure from tariff hikes in the long run.

"Under the current circumstances, we need to let our people know that tariffs are not that horrible. The decisions and measures taken by the Chinese government so far are justified, rational and effective. After half a year, we can see that the room for maneuver will come in all aspects. China's terms of trade and welfare are improving, so in fact, the U.S will suffer far greater losses than China does in the long run," said Gao.

The International Monetary Fund (IMF) lowered its 2019 global growth forecast from 3.5 percent to 3.3 percent in a report issued in April and warned that rising trade tensions beyond forecast remain a key source of risk to the economic outlook.

Another expert added that China has the right to respond on an equal footing in its trade disputes with the U.S..

"We hope to have an equal right to negotiate, not that you can hit me, but I can't hit back. This is absolutely unacceptable," said Tu Xinquan, dean of China Institute for WTO Studies, University of International Business and Economics.

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  • ID : 8110764
  • Published : 2019-05-15 15:22
  • Last Modified : 2019-05-15 16:30:40
  • Location : China;United States
  • Category : economy, business and finance
  • Duration : 1'52
  • Audio Language : Chinese/Nats/Part Mute
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Version : 3

China-Trade Disputes/Response

China's response to U.S. tariff hikes justified, rational: experts

Dateline : Recent/File

Location : China;United States

Duration : 1'52

  • English


FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
1. Various of U.S. Capitol Hill
2. Various of U.S. Department of Commerce
3. U.S. national flags on building, pedestrians, vehicles

FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
4. Various of Chinese national flag, Tian'anmen Square, Chinese national emblem

Beijing, China - Recent (CCTV - No access Chinese mainland)
5. SOUNDBITE (Chinese) Gao Lingyun, researcher, Institute of World Economics and Politics, Chinese Academy of Social Sciences (starting with shot 4, partially overlaid with shot 6):
"Under the current circumstances, we need to let our people know that tariffs are not that horrible. The decisions and measures taken by the Chinese government so far are justified, rational and effective. After half a year, we can see that the room for maneuver will come in all aspects. China's terms of trade and welfare are improving, so in fact, the U.S will suffer far greater losses than China does in the long run."

FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
++SHOT OVERLAYING SOUNDBITE++
6. Various of Tian'anmen Rostrum, Chinese national flag, Tian'anmen Square
++SHOT OVERLAYING SOUNDBITE++

FILE: New York City, USA - Date Unknown (CCTV - No access Chinese mainland)
7. Various of people shopping in apparel stores
8. Pedestrians

FILE: Washington D.C., USA - June 28, 2016 (CGTN - No access Chinese mainland)
9. Various of automobile assembly line

Beijing, China - Recent (CCTV - No access Chinese mainland)
10. SOUNDBITE (Chinese) Tu Xinquan, dean, China Institute for WTO Studies, University of International Business and Economics:
"We hope to have an equal right to negotiate, not that you can hit me, but I can't hit back. This is absolutely unacceptable."

FILE: China - Exact Date and Location Unknown (CCTV - No access Chinese mainland)
11. Various of workers, production line

FILE: Ningbo City, Zhejiang Province, east China - Date Unknown (CGTN - No access Chinese mainland)
12. Various of Ningbo-Zhoushan Port scenes, containers being handled


China's response to the U.S. tariffs hikes is a justified and rational move as the country has the right to negotiate on an equal basis, according to experts.

Last week the United States announced the increase of tariffs on 200 billion U.S. dollars' worth of Chinese goods from 10 percent to 25 percent as of May 10. The decision was made when the latest China-U.S. trade talks were still underway. However, later the United States claimed that the setbacks of the talks were due to China reneging on its word.

China announced Wednesday that it will take necessary countermeasures if the United States puts new tariffs on imports from the country.

Gao Lingyun, a researcher with the Institute of World Economics and Politics under the Chinese Academy of Social Sciences, believes that China's response is fair and thinks the U.S. could actually shoulder more pressure from tariff hikes in the long run.

"Under the current circumstances, we need to let our people know that tariffs are not that horrible. The decisions and measures taken by the Chinese government so far are justified, rational and effective. After half a year, we can see that the room for maneuver will come in all aspects. China's terms of trade and welfare are improving, so in fact, the U.S will suffer far greater losses than China does in the long run," said Gao.

The International Monetary Fund (IMF) lowered its 2019 global growth forecast from 3.5 percent to 3.3 percent in a report issued in April and warned that rising trade tensions beyond forecast remain a key source of risk to the economic outlook.

Another expert added that China has the right to respond on an equal footing in its trade disputes with the U.S..

"We hope to have an equal right to negotiate, not that you can hit me, but I can't hit back. This is absolutely unacceptable," said Tu Xinquan, dean of China Institute for WTO Studies, University of International Business and Economics.

ID : 8110764

Published : 2019-05-15 15:22

Last Modified : 2019-05-15 16:30:40

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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