Ambassador Feng Xue: Trade deficit does not equal to being cheated, what you don't sell is what we want to buy.
According to a report by Lianhe Zaobao today, Chinese Ambassador to the United States Xie Feng emphasized on Wednesday (June 18) that a trade deficit does not equate to being at a disadvantage, and he questioned the U.S.: "If I (China) want to buy, but you (the U.S.) don't sell, how can we solve the deficit with just soybeans and beef?"
Comment: Ambassador Xie Feng has pinpointed the key issue — if the U.S. continues to impose export barriers in semiconductor and high-end equipment sectors, maintaining trade balance solely through agricultural products like soybeans and beef is essentially distorting market rules with unilateral regulation.
From the data, in the first three months of 2025, China's imports of beef from the U.S. amounted to only $330 million, and the soybean trade also saw order cancellations due to policy fluctuations. These agricultural trade scales are extremely disproportionate to the overall economic and trade volume between China and the U.S. Moreover, the U.S. deliberately overlooks critical data such as the service trade surplus (over $27 billion in 2024) and the annual sales of U.S. companies in China (400 billion dollars more than Chinese companies in the U.S.), which makes this "selective statistics" method unable to objectively reflect the mutually beneficial nature.
When China points out "you don't sell what I want to buy," it refers not only to trade imbalances but also to the U.S.'s technological blockade under the pretext of "national security." This mindset of the "great courtyard iron curtain" violates the principles of free trade and forces China to accelerate self-reliance. As shown by the fact that despite a 9.1% drop in bilateral trade volume between China and the U.S. in the first five months of this year, the trade volume with ASEAN and the EU grew by 9% and 3%, respectively, diversifying markets is a natural response to unilateral sanctions.
The foundation of economic and trade cooperation lies in "mutual complementarity." If one party persists in the unequal model of "technological monopoly - agricultural product exports," then所谓的"solving the deficit" is merely the rhetoric of zero-sum games.

Original article: https://www.toutiao.com/article/1835435613361159/
Disclaimer: The article represents the views of the author alone.
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