China warns that there is still “a long and complex process” to end the trade war with the US.

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The signing on Wednesday of the “first phase” of the trade agreement between China and the United States
 it is, for Beijing, “a very important step forward in finding a definitive solution to the trade problems between the two countries”, but a “long, complex and not very easy process” remains.

This was said Thursday the head of business of the Chinese Embassy in Spain, Yao Fei, at a press conference at the diplomatic legation in Madrid to present his country’s point of view on the document signed in Washington.

The signed content establishes that China buys US goods worth 200,000 million dollars in two years, including 50,000 million in agricultural products, 50,000 million in energy and 75,000 million in manufactures, while the United States. it will reduce by half, up to 7.5%, the tariffs imposed on Chinese imports worth 120,000 million dollars, while canceling additional levies. However, tariffs of between 15% and 25% remain for Chinese products valued at 360,000 million dollars.

According to Yao, negotiations to settle the commercial war between the two major trading powers of the globe will begin shortly and will take “time and more work.” “This signature is only part of the process and we will continually push responsibly and constructively to find a definitive solution to all these problems.”

Meanwhile, he said that the bilateral dispute resolution mechanism between Beijing and Washington under the agreement and that of the World Trade Organization (WTO), which “China has always supported,” said, will work at the same time. If the parties do not reach an agreement in that bilateral mechanism, “they will have the right to withdraw,” he warned journalists.

Yao Fei said the agreement with the US not only will it open the Chinese market to American companies, but “to the whole world,” which in his view will offer “more business opportunities” to the European Union and to Spain. “Over the past 15 years, the EU has always been the first trading partner on this planet and China has always been the second largest trading partner of the EU,” recalled the head of business at the Embassy, ​​who was “very sure of that this commercial relationship will be reinforced much more ».

«An equitable deal for Huawei»
On the other hand, China’s diplomatic representative in Spain (currently awaiting the appointment of an ambassador) defended the technological Huawei, which he described as “honest” and “responsible” and accused the United States. of “abusing state power to hit a Chinese company” in what, in his opinion, “constitutes a very negative example of state intervention in market activities, which is subject to strong rejection of China.” Responding to the informants, he said that the agreement signed on Wednesday does not touch on the issue of Huawei, currently on the “blacklist” of the United States. for alleged activities against national security. “We have always reiterated our desire for Huawei to leave that list as soon as possible,” said Yao Fei, who claimed “an equitable and non-discriminatory treatment in the development of technology” for this company.

Regarding Telefónica, he said that the Spanish technology company and Huawei “have maintained an excellent cooperative relationship in recent years” and that they have not “heard any statement from the top managers” of this company to stop using the 5G of the Huawei company . Different information had pointed out that Telefónica intends to reduce its dependence on Huawei and go towards a “multi-manufacturer” model and buy equipment from different suppliers. .

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