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People's Daily Online>>Opinion

China, US have more common interests than differences in foreign trade

By Zhou Xiaoyuan (People's Daily Overseas Edition)

15:53, February 29, 2012

Edited and translated by People's Daily Online

China-U.S. trade volume reached 446.7 billion U.S. dollars in 2011 thanks to their increasingly closer trade ties, 180 times the volume 40 years ago when the two countries established diplomatic relations.

Being each other’s second largest trading partner, the two countries have had frequent trade friction in recent years. The United States has taken a series of protectionist measures and set up a growing number of trade barriers against China through anti-dumping and countervailing duty investigations as well as certain discriminatory policies.

Since the imposition of special tariffs on imports of Chinese tires in 2009, the United States has launched anti-dumping and countervailing duty investigations into imports of Chinese solar panels, textiles, coated paper, color televisions, steel tubes, and furniture, and imposed high punitive tariffs on these products, provoking a number of trade disputes between the two countries.

“The United States has set up many barriers to block Chinese products partially because it is unable to compete with China in certain sectors due to high production costs,” said Li Daokui, director of the Center for China in the World Economy at Tsinghua University. If China does not react strongly, the United States may play more dirty tricks and become more aggressive, which will encourage other countries to follow suit.

Read the Chinese version at http://paper.people.com.cn/rmrbhwb/html/2012-02/28/content_1013337.htm

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