China's Commerce Ministry: We're holding out hope for better-than-ever US relations

  • "(We) hope the U.S. and China can look beyond the current situation and realize an even closer economic and trade cooperation with mutual benefits that resonate between the two business communities," Chinese Ministry of Commerce spokesperson Gao Feng said during a press briefing Thursday, according to a CNBC translation.
  • While the effect on most Chinese companies is limited, those whose products have a weaker competitive edge will face a definite impact, he said.
  • "At this time, most businesses are still full of confidence in the face of these challenges," Gao said. "Individual governments will also implement appropriate measures to help businesses and workers cope any difficulties that may appear."
Gao Feng, spokesperson with China's Ministry of Commerce, speaks at a press conference on April 6, 2018 in Beijing, China.
Li Huisi | China News Service | Getty Images
Gao Feng, spokesperson with China's Ministry of Commerce, speaks at a press conference on April 6, 2018 in Beijing, China.

China would still like to have a close economic relationship with the U.S. despite current trade tensions, the Asian nation's Ministry of Commerce said Thursday.

"We believe the overall trend (toward deeper exchange) will not reverse," spokesperson Gao Feng said during a press briefing, according to a CNBC translation. "(We) hope the U.S. and China can look beyond the current situation and realize an even closer economic and trade cooperation with mutual benefits that resonate between the two business communities."

In the last several months, the Trump administration has levied tariffs on an increasing amount of imports from China. The rate of U.S. duties on the latest $200 billion of Chinese goods is also set to increase to 25 percent from 10 percent at the end of the year. China countered with its own tariffs on $60 billion worth of goods from its largest trading partner. That followed tit-for-tat tariffs on $50 billion worth of imports from the other.

But the world's second-largest economy is still relatively more reliant on exports than the U.S. is on imports.

While the effect on most Chinese companies is limited, those whose products have a weaker competitive edge will face a definite impact, Gao said.

"At this time, most businesses are still full of confidence in the face of these challenges," he added. "Individual governments will also implement appropriate measures to help businesses and workers cope any difficulties that may appear."