Japan and China have voiced agreement that trade protectionism will not benefit any country, Finance Minister Taro Aso said Thursday, warning against U. S.
BEIJING – Japan and China have voiced agreement that trade protectionism will not benefit any country, Finance Minister Taro Aso said Thursday, warning against U. S. President Donald Trump’s implementation of higher tariffs against other nations.
Speaking to reporters after meeting with Chinese vice premiers Liu He and Han Zheng in Beijing, Aso also said that the two countries acknowledge the importance of bolstering financial cooperation, amid growing fears that an intensifying U. S.-China trade war would hurt the global economy.
Aso, who is visiting Beijing ahead of a planned visit by Prime Minister Shinzo Abe to China in October, said Tokyo and Beijing are making efforts to “achieve tangible results” for an envisioned summit between Abe and Chinese President Xi Jinping.
In May, Japan and China agreed to resume their currency swap line in times of financial emergency, while Beijing promised to grant Tokyo a 200 billion yuan (about $29 billion) investment quota in yuan-denominated stocks and bonds.
On Friday, Aso is scheduled to hold a meeting with Chinese Finance Minister Liu Kun during which they are expected to exchange views on how to promote financial cooperation between their two nations.
