03:45 GMT08 August 2020
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    BEIJING (Sputnik) – Cooperation in trade is the only right choice for Washington and Beijing, while the confrontation can only harm both sides, the white paper published by the Chinese government on Sunday reads.

    "Both sides will suffer from the struggle between the US and China, and cooperation is the only right choice. The Chinese side is ready to solve the existing trade contradictions and disagreements through cooperation, and to promote mutually beneficial cooperation," the document reads.

    READ MORE: China Defence Minister on Trade, Taiwan: ‘We'll Fight to the End' if US Want It

    The Chinese side stressed that the increased duties imposed by the United States on Chinese goods would not help to solve the trade issue, and that China was forced to take retaliatory measures to protect its legitimate interests.

    The United States and China have been trying to overcome disagreements that emerged in the wake of US President Donald Trump’s decision last June to impose 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the trade deficit. Since then, the sides have exchanged several rounds of duties.

    The latest hit was made by Washington in May when $200 billion worth of Chinese goods were subjected to the 25 percent tariff fee. Beijing retaliated by hiking tariffs on $60 billion worth of US imports starting from June 1.

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    trade dispute, cooperation, China, United States
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