CHINA-US: CHINA RELEASES WHITE PAPER ON TRADE WAR

China declared on June 2, that the U.S. must withdraw its latest round of tariffs before a deal can be reached. Speaking at a press conference in Beijing on June 2, to release China's White Paper on trade  Wang Shouwen, Chinese Vice Minister of Commerce and Deputy China International Trade Representative, said “When you give them an inch, the U.S. wants a yard.” He  added that the United States insisted on “unreasonably high demands” that crossed over into the area of “intervening with China’s sovereignty.” Wang Shouwen also said that China’s threat to make its own list had suffered from “some over interpretations” and that China would continue to protect the rights of foreign and Chinese companies equally. Still, he said, China has little choice but to respond to the rising pressure from Mr. Trump “If the U.S. wants to use extreme pressuring and all kinds of ways to escalate trade frictions to force China to capitulate, this is impossible.” Meanwhile, Chinese state news media reported over the weekend that the government was investigating FedEx over what the reports said were “wrongful delivery of packages.” The issue is a sensitive one because American intelligence officials have hacked Huawei equipment in the past, leading to concerns among Chinese officials that Chinese-made equipment could be intercepted. A toughly worded article in People's Daily on June 2 warned: "FedEx, no one can help you if you break the law." 







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