No peace through concession — only struggle secures tomorrow

On 7 July, the United States once again wielded the tariff stick, imposing so-called "reciprocal tariffs" on 14 of its trading partners, including Bangladesh. By conducting such unilateral bullying behavior, the US puts its selfish gains over the global public good, and disrupts the multilateral trading system. It also severely undermines the normal international trade order, and has provoked worldwide anger and opposition.

China firmly opposes the US actions. It maintains that there's no winner in tariff and trade wars, and that protectionism harms the interests of all parties. Imposing tariffs is not the right solution. If more countries follow the US example by raising tariffs and focusing solely on their own interests, the world will be further divided, and plunge back to the law of the jungle, where the strong prey on the weak. No country will be immune to it, and everyone will become a victim.

Faced with US bullying and coercion, what will China do? History and reality have taught us that peace can only be preserved through struggle, while compromise leads only to its demise. China's policy has been firm and consistent: If the US wants to fight, we will fight to the end; if it wants to talk, the door remains open. If the United States intends to decouple from China, it is decoupling from opportunities and development, and moving backward in history.

With China's resolute struggle, the US has repeatedly requested economic and trade negotiations with China. After thorough consideration, China agreed to engage in talks with America. In May, the China-US high-level economic and trade meeting in Geneva yielded positive outcomes. After that, from 9–10 June, the two sides held the first meeting of the China-US economic and trade consultation mechanism in London. A principled consensus was reached on implementing the important mutual understanding reached in the phone conversation between the two leaders, and furthering the results of the Geneva meeting. New progress was made in resolving the economic and trade concerns of both sides.

The de-escalation of China-US trade tensions benefits both countries and the world at large. The image of China as a responsible, reliable, and trustworthy nation has taken root in the hearts of people around the world.

China's practice of safeguarding its own interests and upholding global economic and trade rules boils down to two principles: First, resolute counterattack and counter-check in kind. Second, no acceptance of any forced treaty of peace. Negotiations must be conducted on an equal footing based on mutual respect. This approach also offers valuable experience for other countries victimized by America's abuse of tariffs.

Bangladesh boasts its position as the world's second-largest exporter of ready-made garments(RMG). It is earned not by chance but through the hard work of its diligent people. Over 80 percent of Bangladesh's exports to the US consist of affordable, high-quality RMG, which meets American market demand with lower prices, delivering an excellent consumer experience for the American people.

It is a direct beneficiary of trade with Bangladesh, and it is universally known that the US is the biggest beneficiary of economic globalization and trade liberalization. The world owes the US nothing, and neither does Bangladesh.

China firmly supports Bangladesh in safeguarding its interests and hopes to see Bangladesh resolve its economic and trade differences with the US through equal consultations. China also believes that Bangladesh will resolutely defend international economic and trade rules and the multilateral trading system, always standing on the side of fairness, justice, and the right side of history.

China will continue to support Bangladesh's economic and social development and improvement of people's livelihoods through concrete actions. Over the past 50 years since the establishment of diplomatic relations between the two nations, win-win cooperation has always been the essence of China-Bangladesh trade ties. Against the backdrop of increasing global uncertainties—notably the challenges posed to China, Bangladesh and other countries by America's indiscriminate tariff measures, China remains committed to working hand in hand with Bangladesh towards common development and shared prosperity, firmly delivering benefits to the peoples of both nations.

China has remained Bangladesh's largest trading partner for 15 consecutive years. From January to May this year, China exported US$3.47 billion's worth of textile intermediates to Bangladesh, a 5 percent growth year-on-year. At the end of May this year, the first shipment of fresh Bangladeshi mangoes successfully entered the Chinese market. China is also actively accelerating the approval process for the import of other quality Bangladeshi agricultural products, including jackfruit and guava.

In particular, China's zero-tariff treatment policy on 100% of taxable items of Bangladeshi products which will extend until the end of 2028, has created significant opportunities for its development. In contrast, the United States has imposed a 35% tariff on Bangladesh, one of the least developed countries in the world, which is both unreasonable and unethical.

China-Bangladesh cooperation in investment has also yielded fruitful results. In the first quarter of this year, Chinese investment in Bangladesh surged by 370%. Since the formation of the interim government, nearly 20 Chinese enterprises have signed investment agreements with their Bangladeshi partners, with a total intended investment exceeding US$400 million, making China the largest investor in Bangladesh since the formation of the interim government.

On 1 June, China's Minister of Commerce Mr. Wang Wentao led a delegation of nearly 150 Chinese enterprises to visit Bangladesh. Among them, more than 40 companies expressed investment intentions in such sectors as agriculture and fisheries, textiles and garments, clean energy, and tourism development. Breakthroughs have been achieved in the Chinese Economic and Industrial Zone Project, the Agricultural-PV Integration Park on Banshkhali Island, and the China-Bangladesh Mongla Port Economic Zone (CBMPEZ). I am confident that in the near future, China will become Bangladesh's largest source of foreign investment.

China-Bangladesh cooperation is also deeply rooted in people's livelihoods, bringing tangible benefits to the Bangladeshi people. Chinese hospitals are open to Bangladeshi patients seeking medical treatment. China has donated medical equipment worth over US$2.1 million to Bangladesh, including automated rehabilitation center, ventilators and mobile surgical vehicle, as well as dengue testing kits worth US$42,000 and more than 15,000 COVID-19 test kits. To support Bangladesh in flood relief, China has provided life-saving equipment including inflatable boats, life vests, and generators worth US$1.5 million.

Furthermore, China will assist in constructing a modern, 1000-bed comprehensive hospital in Bangladesh. The China-aided Burn Unit of Chittagong Medical College Hospital is under construction. China is also positively considering building a residential hall for female students at the University of Dhaka. China is always ready to provide support to Bangladesh within its capacity, making the friendship between the two countries continues to blossom like flowers in the hearts of both peoples.

As Bangladesh strives to uphold its development rights, defend against external shocks, and safeguard its independence, sovereignty, and core interests, China will stand firmly by its side—as its most reliable friend and development partner. Guided by the important consensus reached by the two leaders during the visit of Hon'ble Chief Adviser to China in March this year, and taking the 50th anniversary of diplomatic ties as a new starting point, China will continue to work hand in hand with Bangladesh, and strive to advance high-quality Belt and Road cooperation, further deepen the China-Bangladesh comprehensive strategic cooperative partnership, and jointly safeguard international fairness and justice.

HE Mr Yao Wen is the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the People's Republic of Bangladesh.