Beijing:
China on Friday said it was evaluating the US offer to negotiate tariffs, but hoped Washington was “honesty” and was ready to scrap the taxes that have shaken up global markets and supply chains.
Penalizing US tariffs, which reached 145% on many Chinese products in April, was responded by Beijing with a 125% duties on imports from the US.
High-end, high-tech products such as smartphones, semiconductors and computers are receiving a temporary reprieve from US tariffs.
US President Donald Trump has repeatedly argued that China has reached out to talks on tariffs, saying he believes this week there is a very high chance that we will make a deal.
Beijing's Commerce Department confirmed on Friday that the US reached out, which confirmed it is currently “evaluating” the offer.
But it said that every speech would first require integrity from the US side.
“If the US wants to speak, then do so should show integrity, correct any wrong practices and be prepared to cancel unilateral tariffs,” the department said.
“If the US does not correct the wrong, unilateral tariff measures in possible dialogues or consultations, it simply means that the US is completely dishonest and further undermines mutual trust between both sides.”
“It doesn't work if you say one thing, do something else, or try to force and terrify mail under the guise of consultation,” the Commerce Department said.
In July, it faces a 90-day deadline that expires in July, in order to get an agreement with Washington and avoid higher country-specific fees.
However, Beijing vowed to fight a trade war with a fierce end if necessary. This week, the Ministry of Foreign Affairs said, “Never kneel!”
However, they acknowledge that global economic fluctuations have been strained in the economy and have long relied on exports, and authorities acknowledge that foreign-favoured businesses face difficulties.
This week's data showed that factory activity was reduced in April, and Beijing condemned “sudden changes” in the world economy.
China's exports skyrocketed more than 12% in March as businesses rushed to preempt swing tariffs.
(Except for the headline, this story has not been edited by NDTV staff and is published by Syndicate Feed.)
