Chinese authorities have invited the Indian government to join efforts to effectively offset the potential impact of “protectionist“ and “unilateral“ trade practices implemented by the US across the world over recent months.
According to Chinese Vice Foreign Minister Zhang Hanhui, “trade frictions between China and the US and the specter of trade frictions between the US and India” may become a crucial subject for talks between the two states, bullied by Washington.
“Trade protectionism and unilateralism are very much on the rise. How to respond to the bullying practices of the United States … its practices of trade protectionism is an important question,” Zhang said.
The comment comes ahead of the Shanghai Cooperation Organization (SCO) summit, which is to kick off in the Kyrgyz capital of Bishkek later this week. Chinese President Xi Jinping is expected to meet with his Indian counterpart Prime Minister Narendra Modi on the sidelines of the event.
The top official stressed that the heads of state would reach deeper understanding on the issue of “upholding justice and opposing trade protectionism” in global trade. Moreover, Zhang expressed hopes that the neighboring nations would agree on bilateral trade.
China, which has been embroiled in an unceasing trade dispute with the US, is being forced to look for new allies and partners. So far, the White House has imposed billions of dollars in tariffs on China, with Beijing firing back in a reciprocal way. The trade war saw another escalation after the US intensified attempts to force Chinese tech giant Huawei out of the American and European markets.
The latest attacks by the US on its long-standing trade partners have had a significant negative impact on Washington’s relations with New Delhi. Last year, the US slapped India with 25 percent tariffs on steel and 10 percent levies on aluminum. Earlier this month, the country was officially excluded from the Generalized System of Preferences, a duty-free import agreement under which it was allowed to export over $5 billion worth of goods to the US market annually.
Apart from that, the US administration has forced India to stop buying oil from Iran and Venezuela and ordered it to scrap its S-400 air defense system deal with Russia.