By Admin 
US President Donald Trump warned that his government is considering ending edible oil trade with China. Responding to this threat, China said that no one becomes a winner from a trade war. China’s Foreign Ministry said that trade-related differences are not in the interest of any party.
China replied to Trump
Chinese Foreign Ministry spokesperson Lin Jian said, “The two sides should resolve issues through dialogue on the basis of equality, respect and mutual benefit. China’s position on China-US economic and trade issues is very clear.”
China has refused to buy American soybeans. Due to retaliatory tariffs on American goods, soybeans became expensive for Chinese importers, due to which Dragon has started buying soybeans from South America.
China’s move amounts to an economic attack on US: Trump
China has been the largest buyer of American soybeans. On this, Trump said that China’s restrictions on rare earth, soybean and other things are like a direct economic attack on America. “We are considering eliminating cooking oil and other aspects of trade with China as retaliation,” Trump said.
‘Control of rare earth minerals is necessary for world peace’
A Chinese Foreign Ministry spokesperson said that our leaders have made their position clear on recent policies. China described these controls as necessary for world peace and regional stability. Last week, China tightened controls on the export of rare earth minerals required for the manufacture of high-tech products, due to which Trump announced a 100 percent tariff on Beijing.
Last May, when America imposed tariffs on Chinese imports, China stopped purchasing soybeans, which created a big crisis for American farmers. America exported soybeans worth about $24.5 billion last year, out of which China bought soybeans worth $12.5 billion.
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