China deems US irresponsible for suspending ITA negotiations
Updated: 2013-11-25 16:07
BEIJING -- The head of China's Ministry of Commerce (MOC) deemed the United States as irresponsible for abruptly suspending Information Technology Agreement (ITA) negotiations, according to a ministry statement on Monday.
On Thursday, the US decided to discard a consensus agreed by 78 countries that covers tax exemptions on about 200 items, involving trade volume of 2.77 trillion yuan ($451.57 billion). The US made the decision after China refused to grant tax exemptions on several products, Gao Hucheng said.
China has been pushing forward ITA expansion negotiations since September and understands that each country has different requirements. However, demands made by the US far exceeded what is acceptable to Chinese enterprises, according to the statement.
Gao said Chinese companies would be left in a weaker position if the US got its way.
The Commerce Minister urged all sides to find a proper solution and reach an agreement as soon as possible.