US seeks to avoid confrontation with China – VP

WASHINGTON, US Vice President Mike Pence on Thursday expressed hope that China would work with the administration of President Donald Trump to resolve the outstanding differences over trade amicably. In an address at the Wilson Center about the future of the US relationship with China, Pence said, “If China will step forward and seize this unique moment in history to start anew by ending the trade practices that have taken advantage of the American people for far too long, I know President Donald Trump is ready and willing to begin that new future.” “The president has also made it clear the United States does not seek confrontation with China. We seek a level playing field, open markets, fair trade, and a respect for our values,” he affirmed.

In less than two short decades we’ve seen what president has said “the greatest transfer of wealth in the history of the world,” the Vice President pointed out.

“Over the past 17 years has grown by more than nine-fold and has become the second largest economy of the world most of that success was driven by American investment in China. “Beijing’s actions has contributed to the US trade deficit with China that mounted last year to more than 400 billion, nearly half of our global deficit,” he said, adding, “As president trump has said, ‘We rebuilt china.'” President Trump has recently said that the trade deal with China is “coming along very well,” hoping to sign phase 1 of the deal in Chile during the Asia-Pacific Economic Cooperation summit in Chile next month.” He announced a fortnight ago that US and Chinese trade negotiators “have come to a very substantial phase one deal,” regarding, inter alia, the “intellectual property, financial services and USD 40-USD 50 billion related to agriculture products.”

Source: Kuwait News Agency