BEIJING: The United States has approached China to seek talks over President Donald Trump’s 145% tariffs and Beijing’s door is open for discussions, China’s Commerce Ministry said on Friday, signalling a potential de-escalation in the trade war.
The U.S. should be prepared to take action in correcting “erroneous” practices and cancel unilateral tariffs, the commerce ministry said in a statement, adding that Washington needs to show “sincerity” in negotiations.
Trump’s new tariffs take effect, with 104% on Chinese goods
“Attempting to use talks as a pretext to engage in coercion and extortion would not work,” the commerce ministry said.
Beijing has openly expressed its anger at the tariffs, which it says are tantamount to bullying and cannot stop the rise of the world’s second-largest economy.
It has directed its fury at rallying public and global condemnation of Washington’s import curbs.
Alongside leveraging its propaganda machine to hit back at the duties, China has quietly created a list of U.S.-made products it will exempt from its retaliatory 125% tariffs - including select pharmaceuticals, microchips and jet engines - Reuters has reported.
US has reached out to China to talk tariffs, state media says
On the U.S. side, officials, including Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett, have also expressed hope for progress in easing trade tensions.
Trump said on Wednesday he believed there was a “very good chance” his administration could do a deal with China, hours after Chinese President Xi Jinping called on officials to take action to adjust to changes in the international environment, without explicitly mentioning the United States.
Comments
Comments are closed for this article.