Negotiations at risk. China sets tough condition for US
Photo: US President Donald Trump and Chinese leader Xi Jinping (Getty Images)
Beijing denied that it is nearing an agreement to resolve the trade war with the US and set a tough condition for the US, the Financial Times reports.
China urged the US to "completely cancel all unilateral tariff measures" if it wishes to continue trade negotiations. Beijing also stated that "currently no economic and trade negotiations between China and the United States."
Furthermore, claims that China is allegedly nearing an agreement with Washington to resolve the trade war were labeled as "fake news" by Beijing.
A representative of the Ministry of Commerce of China, He Yadong, noted that the unilateral tariff measures were initiated by the US.
"If the US truly wants to solve the problem, it should... completely cancel all unilateral tariff measures against China and find a way to resolve differences through equal dialogue," he emphasized.
In Beijing's view, it is the US that must take the first step to de-escalate the crisis, which threatens to provoke a harsh separation between the economies of the two countries.
US and China tariffs
Earlier this month, Trump announced the introduction of mutual tariffs for almost all countries worldwide.
Regarding China, it was initially reported that US President Donald Trump imposed additional tariffs of 20% on China, and later raised them by another 34%.
The American leader continued to increase tariffs each time China announced retaliatory measures.
Thus, within just a few days, Trump raised tariffs on Chinese goods to 145%. In response, Beijing raised tariffs on US goods to 125%.
Recently, the White House stated that, as a result of China’s retaliatory actions, China now faces an import tariff to the US of up to 245%.
Amidst this trade war, Trump called on China to call him in order to begin negotiations to resolve the trade conflict between the two largest economies in the world.
However, China stated that it wants to see a series of actions from President Donald Trump's administration before Beijing agrees to trade talks with the US.
Yesterday, information emerged that the US administration is considering the possibility of lowering tariffs on Chinese imports to ease the ongoing trade tension.
