Read the Full China White Paper on U.S. Economic and Trade Talks.

Turning a blind eye to the nature of the economic structure and the stage of development in China and the US, as well as the reality of the international industrial division of labor, the US insists that China's "unfair" and non reciprocal" trade policies have created a trade deficit in bilateral commercial exchanges that constitutes "being taken advantage of", leading to unilateral imposition of additional tariffs on China. In the ensuing 90 days, the working teams of China and the US held three rounds of high level consultations in Beijing and Washington D.C., reaching preliminary consensus on many matters of principle for the China US economic and trade deal. Despite China's fierce opposition, the US raised the additional tariffs on US$200 billion of Chinese exports t o the US from 10 percent to 25 percent, which represented a serious setback to the economic and trade consultations. [Extracted from the article]