Chinese paper says country ready for next stage of trade debate with USA
China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned,
The United States and China have already levied duties on $50 billion worth of each other’s goods in an intensifying row that has jolted global financial markets in the past few months.
Last week, the U.S. Treasury Department invited senior Chinese officials, including Vice Premier Liu He, to more talks on the tariff dispute, though scepticism remained high among trade observers on both sides over the prospects of a breakthrough.
China’s Foreign Ministry reiterated that the escalation of the trade conflict was not in anyone’s interest.
“We have always maintained that the only correct means to resolve the trade dispute is through dialogue and consultation on an equal basis with mutual trust and respect,” ministry spokesman Geng Shuang told a regular news briefing.
A senior administration official told Reuters over the weekend that Trump was likely to announce the new tariffs as early as Monday.
In early morning tweets, Trump said imposing tariffs strengthened the United States’ bargaining position and that so far any cost increases on goods had been “almost unnoticeable”.
“If countries will not make fair deals with us, they will be ‘Tariffed!’” Trump wrote.
The Global Times, which is published by the ruling Communist Party’s People’s Daily, wrote in an editorial: “It is nothing new for the U.S. to try to escalate tensions so as to exploit more gains at the negotiating table.”Published: by Radio NewsHub