11 months ago
China to Firms: Avoid Price Wars, Protect Trade Truce
China wants its companies to avoid lowering prices too much in the U.S. because they want to keep good trade with the U.S. Chinese officials met with companies in New York and told them to work together.
They don't want price wars or too much being made in certain industries.
This is to keep things stable.
Leaders are also working on a deal involving TikTok.
Both countries are hoping to work through issues they may have, but China wants fairness for their businesses.
China urged companies to avoid price wars in the US.
Commerce Minister Wang Wentao met with Chinese firms in New York.
Meeting aimed to maintain stable trade with the US.
China's leadership wants to manage overcapacity.
US and China are working towards a deal, hoping for positive talks.
- Who
- China's Commerce Minister Wang Wentao and Chinese companies
- What
- Were urged to avoid price wars in the US
- Where
- New York
- When
- Tuesday
- Why
- To maintain a trade truce
Maintaining Fair Trade
Avoiding Unfair Competition
Excessive Competition
Maintaining Fair Trade
Focus on price wars can disrupt the existing global trade balance.
Avoiding Unfair Competition
China views internal and external competition that causes diminishing returns as undesirable.
US-China Trade Relationship
Maintaining Fair Trade
The US President is optimistic about reaching a deal with China, signaling possible easing of trade tensions.
Avoiding Unfair Competition
China wants a fair environment for its companies to conduct business in the US. The Chinese government may be more reserved.
Key facts
- Key Players
- China's Commerce Minister Wang Wentao, Chinese companies
- Meeting Location
- New York
- Date of Meeting
- Tuesday
- Industries Mentioned
- E-commerce, telecommunications, auto parts
- Key Message
- Avoid price wars in the US
- Underlying Goal
- Maintain stable trade relations with the US
Quotes
Commerce Minister Wang Wentao
China's Commerce Minister
“will strive to stabilize China-US economic and trade cooperation in accordance with the central government’s decision-making and deployment, firmly safeguard the legitimate rights and interests of Chinese enterprises, and create a good environment for mutually beneficial cooperation between enterprises of the two countries.”
thehindubusinessline.com
“have reached a series of important consensus results after several rounds of economic and trade consultations”
thehindubusinessline.com
