China’s Ministry of Commerce (MOFCOM) announced at a press conference on August 26 that the trade volume in Sino-US goods grew by 40 percent year-on-year from January to July, with imports from the US increasing by 50.4 percent and exports to the US by 36.9 percent.
MOFCOM spokesperson Gao Feng said the huge increase is proof that Chinese and American economies are complementary and that trade cooperation conforms to the interests of both countries. Gao said that China’s economy and trade teams are in regular communication with the US.
According to The New York Times, US businesses are appealing to the White House to reduce tariffs on Chinese imports and hope to see a resumption in trade negotiations.
Gao said that increasing tariffs is neither good for either country nor for global economic recovery. He said both countries should make efforts to expand Sino-US trade cooperation.
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