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Don't blame yuan for Sino-U.S. trade gap-China

Published 03/30/2010, 04:32 AM
Updated 03/30/2010, 04:52 AM

BEIJING, March 30 (Reuters) - The yuan's exchange rate is not the solution to the imbalance in trade between China and the United States, Commerce Minister Chen Deming said on Tuesday.

Chen pledged to maintain dialogue and cooperation with the United States to solve disputes. Political pressure and threats of trade sanctions were not the way to handle disagreements, he said in a statement posted on the ministry's website, www.mofcom.gov.cn, both in Chinese and English.

Chen reiterated that China was likely to record a trade deficit in March. It would be the first monthly trade deficit since 2004. (Reporting by Zhou Xin and Kevin Yao; Editing by Alan Wheatley)

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