China Rejects Trump Trade Criticism, Says President Must Be Aware of 'Bullying and Suppression'

China has rejected President Donald Trump's latest attack on its trade practices, suggesting the U.S. should be receptive to the concerns of developing countries and meet Beijing halfway on a new trade deal.

Trump criticized China again on Tuesday in a speech at the United Nations General Assembly in New York. He said Beijing was failing to keep the promises it made upon joining the World Trade Organization in 2001, instead engaging in predatory practices that undermined the economies of other nations.

The president said China "has embraced an economic model dependent on massive market barriers, heavy state subsidies, currency manipulation, product dumping, forced technology transfers and the theft of intellectual property and also trade secrets on a grand scale." According to Reuters, he added: "As far as America is concerned, those days are over."

Trump also sent a memo to Trade Representative Robert Lighthizer, in which he decried China's WTO status as a "developing country," which allows Beijing to set higher tariffs and other barriers to stimulate economic growth.

"The United States has never accepted China's claim to developing-country status, and virtually every current economic indicator belies China's claim," the memo read, noting that China's gross domestic product is second only to the U.S.

"China and too many other countries have continued to style themselves as developing countries, allowing them to enjoy the benefits that come with that status and seek weaker commitments than those made by other WTO Members," the message added.

But Chinese Foreign Ministry spokesperson Geng Shuang said Wednesday the U.S. must acknowledge its concerns, according to The Associated Press. Geng said Trump should "listen to developing countries' calls for rapid development, opposition to bullying and suppression and aspirations for peace and stability."

"The United States should see China's development with an open, inclusive and win-win attitude and meet China halfway to control differences on the basis of mutual respect," Geng added.

A trade deal between the two nations has proved elusive, with both imposing retaliatory tariffs on each other's exports in a wide-ranging trade war that has unnerved global financial markets. On Tuesday, Trump said he would not budge on his pledge to address what he considers Chinese misconduct.

"The American people are absolutely committed to restoring balance in our relationship with China," he told the United Nations General Assembly. "Hopefully, we can reach an agreement that will be beneficial for both countries...As I have made very clear, I will not accept a bad deal."

China, US, trade, donald trump, trade war
This file photo shows Chinese and U.S. flags at the Ministry of Transport of China in Beijing on April 27, 2018. JASON LEE/AFP/Getty Images/Getty
China Rejects Trump Trade Criticism, Says President Must Be Aware of 'Bullying and Suppression' | News