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As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by WASHINGTONEXAMINER.COM:

President Trump’s team must not try to punish Chinese companies that work with North Korea, a senior Chinese diplomat warned Friday.

“We oppose any country using unilateral sanctions or imposing ‘long-arm jurisdiction’ on Chinese entity or individual in accordance with its domestic laws,” Chinese Foreign Ministry spokesman Geng Shuang said during a press briefing.

The article goes on to state the following:

That protest came on the heels of the United States imposing sanctions on a tech company based in China “but in reality it is managed and controlled by North Koreans,” according the Treasury Department. Geng defended the company, even as lawmakers are urging the Trump administration to sanction North Korea’s Chinese partners more aggressively.

“China has lodged stern representations with the US, urging the US side to stop its wrong action,” Geng said.

The Trump administration imposed secondary sanctions on Yanbian Silverstar Network as well as its “Russia-based sister company, Russia Silver Star” on Thursday. “These actions are intended to stop the flow of illicit revenue to North Korea from overseas information technology workers disguising their true identities and hiding behind front companies, aliases, and third-party nationals,” Treasury Secretary Steven Mnuchin said.

Below is the relevant Q & A from the press release as the Foreign Ministry Spokesperson Geng Shuang makes remarks on September 14, posted by the Ministry of Foreign Affairs of the People’s Republic of China:

Q: The US Treasury Department has put sanctions on a Chinese-based tech company based in Yanbian, Jilin province due to its relationship with the DPRK. Has the Chinese government complained to the US government about these sanctions?

A: China has fully and strictly implemented DPRK-related resolutions of the UN Security Council. At the same time, we oppose any country using unilateral sanctions or imposing “long-arm jurisdiction” on Chinese entity or individual in accordance with its domestic laws. China has lodged stern representations with the US, urging the US side to stop its wrong action.

Q: According to reports, the US recently said that China has more to lose and is under greater pressure than the US in a trade war. China’s economy looks bad and its business and investment are collapsing. What’s your comment?

A: China’s position on the issue of China-US trade disputes is clear and consistent. As we stressed many times, trade war never resolves any problem and will only hurt the US itself and others. As a Chinese saying goes, “Kill one thousand enemies, lose eight hundred soldiers.” I believe there is no point arguing the difference between one thousand and eight hundred.

I believe you may have noted that, in public hearings on the proposed tariff increase on $200 billion of Chinese imports, most attendees believed that the tariff increase would harm US enterprises and even destroy relevant industries. The US Chamber of Commerce said in written testimony that the new tariffs would dramatically expand the harm to American consumers, workers, businesses, and the economy. In more than 1,400 written comments submitted to the Office of the United States Trade Representative, most businesses argued that new tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to coffins.

According to a report issued by the American Chambers of Commerce in China and in Shanghai just yesterday, two-thirds of American companies in China say their business in China has been affected by the first round of tariffs the US imposed on $50 billion worth of Chinese goods. Over 70% of US businesses in China said they would be hurt if Washington’s tariff on $200 billion of Chinese goods goes ahead. The US government’s tariffs will turn out to be just the opposite of their wish.

We again urge the US policymakers to heed the strong call of its industries and customers and the appeal for multilateralism and free trade from the international community. It needs to come back to its sense as soon as possible and stop unilateral and trade protectionist practices.

As to China’s economy, according to latest statistics, the GDP grew at a rate of 6.8 percent in the first half of this year. The total imports and exports from January to August registered a year-on-year increase of 9.1 %. The number of foreign-invested businesses newly set up rose by 102.7%. Despite uncertainties and destabilizing factors from the outside, the general trend of steady growth for the Chinese economy remains unchanged. The Chinese government is confident in and capable of ensuring the steady and sound development of the economy.

To sum up, like what my colleague from the Ministry of Commerce and I said yesterday, the Chinese side has received the US’ invitation for a new round of trade talks and we welcome that. A spiraling trade war is in the interests of neither side, and dialogue and consultation on the basis of equality and good faith make the only viable way out for the problem.

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