United States should not act emotionally on trade: Chinese Premier

United States should not act emotionally on trade: Chinese Premier

United States should not act emotionally on trade: Chinese Premier

Russian Federation is trying to develop its Far East federal district by improving its infrastructure and increasing cooperation with Asian nations such as China, Japan and South Korea.

The US should not act "emotionally" and avert a trade war, Chinese Premier Li Keqiang today said, hoping to reach an agreement with Washington over the mounting Dollars 375 billion trade deficit, a core concern of President Donald Trump.

In a memorandum calling on the USTR to initiate the investigation, the president expressed concern that Chinese industrial policies undermine US competitiveness by inhibiting USA exports, offshoring American jobs to China, exacerbating the US trade deficit, and depriving US citizens of proceeds from their intellectual property. Tokyo is working to set up a reciprocal official tour of China by Prime Minister Shinzo Abe and calling for Beijing to consider a formal visit by President Xi Jinping afterwards.

He said China is already so integrated into the global economy that moving in the opposite direction would be counterproductive.

China has been infuriated by Trump's signing legislation that encourages the United States to send senior officials to Taiwan to meet Taiwanese counterparts and vice versa.

China has the lion's share of over United States dollars 580 billion in bilateral trade with the US.

"We hope this important means for balancing China-US trade will not be missed, because that would be missing a good opportunity for making money", he said, referring to the longstanding complaint of a large US trade deficit with China, which stood at US$375 billion at the end of previous year.

China is going to further open services and manufacturing, which Li believes will create opportunities for the US.

The commerce ministry says that China welcomes "friendly negotiations" with the USA on intellectual property protection, but firmly opposes unilateral measures such as those outlined under Section 301 in the Trade Act of 1974.

Before the press conference, Li introduced China's four new vice premiers, including Liu He, widely regarded as China's new economic tsar. The government aims to expand its economy by around 6.5 per cent this year, having easily surpassed the same target in 2017.

China will remain a responsible and long-term investor globally, Li said.

Li would be the first Chinese premier to visit Japan since Wen Jiabao in May 2011.

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