US official: Negotiations preferred to solve trade frictions
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Trade frictions are inevitable but the preferred approach is to work them out through negotiations, a senior U.S. official said on Tuesday.
"U.S. believes in open economy as its consumers benefit from it," Robert D. Hormats, under secretary of state for economic, energy and agricultural affairs told an audience from University of International Business and Economics, a cradle for China's international business and trade talents.
Hormats said the United States supports adherence to the rules of global economy and avoids trade protectionism.
He also commented the significance of President Obama's upcoming China visit, saying the bilateral relations might "shape global developments over the coming decades".
Obama will talk with Chinese leaders about climate change, energy cooperation, and cooperation in the sector of clean energy in particular during his China visit, Hormats said.
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