At a public event held in Washington on Saturday, Xie said the details were posted on the Chinese Embassy website, and said tariffs would devastate the global economy and bring out similarities between the Great Fear pression imposed by the US in 1930 and tariffs.
Referring to the concept of traditional Chinese herbal medicine, such as the need to balance the opposing forces of Yin and Yang, Xie said harmony should guide the relationship between the two biggest economies of the world.
“Good traditional Chinese medicine recipes usually combine many different ingredients that enhance each other and produce the best medical effects,” he said.
“In the same way, the Earth is big enough to accommodate both China and the US,” he said. “We should not clash head-on, but pursue peaceful coexistence and help each other succeed, rather than being caught up in a losing scenario.”
The trade war has almost frozen mammoth trade between the two largest economies of the world with tariffs above 100% in each direction and the suite of trade, investment and cultural restrictions.
China’s Top Shipbuilding Association on Saturday attacked US plans to apply port rates to China-related vessels.
Japan, Taiwan and others have already been in discussions or are preparing to negotiate with Washington over the tariffs on President Donald Trump’s “liberation day” but no high-level dialogue with China is currently planned.
Trump said Friday that the US is having a good personal conversation with China amid the two countries’ trade war.
“By the way, we’re having a great conversation with China,” he told White House reporters. “It’s like really, really good.” He didn’t provide any additional details.
China says the US should show respect before consultations take place.
Xie said China opposes the trade war and will retaliate against countries that impose tariffs.
MNA/TSN