China's business community firmly opposes US tariff hikes

BEIJING -- China's business community deeply regrets and firmly opposes the US decision to impose an additional 10-percent tariff on goods imported from China, a spokesperson for the China Council for the Promotion of International Trade said on Sunday.

The US unilateral imposition of additional tariffs seriously violates World Trade Organization rules, and many US businesses and consumers will have to bear the costs, the CCPIT spokesperson said in a statement.

This move will disrupt normal China-US economic and trade cooperation and threaten the stability of global industrial and supply chains, the spokesperson added.

"There is no winner in trade and tariff wars," the spokesperson stressed, noting that the erroneous actions by the United States will not solve the US problems at home. Instead, they will harm China-US relations and negatively affect global economic development.

China's business community has urged the US side to immediately correct its wrongdoings, work with China to meet each other halfway, and strengthen cooperation with other countries to foster a favorable international environment for mutual benefit and win-win outcomes for the business communities of both countries and the world, and to inject more stability and positive energy into the global economy, the spokesperson said.