Wed Apr 09 08:20:00 UTC 2025: ## China Rebuts US Claims of Unfair Trade Practices, Highlights Balanced Economic Relationship

**Beijing** – China today refuted US claims of unfair trade practices stemming from a large trade deficit, arguing that the imbalance is a result of structural issues within the US economy and global comparative advantages, not deliberate Chinese policy. A spokesperson from the Ministry of Commerce, responding to questions on a recent white paper regarding Sino-US economic relations, presented a nuanced view of the trade relationship.

The spokesperson highlighted that China’s current account surplus as a percentage of GDP has significantly decreased from 9.9% in 2007 to 2.2% in 2024, demonstrating a commitment to balanced trade. They emphasized that focusing solely on goods trade is misleading, as the US enjoys a substantial surplus in services trade with China, reaching $26.57 billion in 2023, representing roughly 9.5% of the US total services surplus.

Considering goods and services trade alongside the sales of US companies operating in China, the spokesperson asserted that the overall economic benefits for both countries are largely balanced. Furthermore, the spokesperson pointed out that despite tariffs imposed by the US, America’s overall trade deficit has not shrunk, contradicting claims that tariffs on Chinese goods would remedy the imbalance.

To further demonstrate China’s commitment to open markets, the spokesperson cited the annual China International Import Expo (CIIE), held in Shanghai since 2018, which has seen year-on-year growth in participating countries and intended transaction values, exceeding $500 billion in total. China’s total imports reached a record high of RMB 18.4 trillion (approximately USD 2.5 trillion) in 2024, marking the 16th consecutive year as the world’s second-largest importer. China reiterated its commitment to further expanding imports and creating a shared global market.

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