China argued that it was not actively involved in the negotiation process over tariffs with the US, and expressed confidence that President Trump could enter into a new trade agreement with Beijing.
His commerce department spokesman, Yadong, said Thursday that “claims about progress in trade negotiations between China and the US are unfounded as they try to catch the wind and are virtually unfounded.”
“China’s position is consistent and we are open to consultations and dialogue, but we need to carry out all forms of consultations and negotiations in a mutual respect and equal way,” he told reporters during the press conference.
Trump acknowledges that the additional 125% tariffs he slapped in China earlier this month (paired with the existing 20%) is “very high,” indicating that he could build a new trade deal with Chinese President Xi Jinping.
“We’re dealing with a lot of countries now and we could be with China, but maybe we’ll do something special – you know, you know the deal – and we’ll see what it will turn out.
A day ago, the president made a similar comment, suggesting that the 145% obligation on Chinese goods coming into the US would “deep down significantly,” but he said it was “not zero.”
Treasury Secretary Scott Bescent also told a private conference of investors on Tuesday that he hopes for “exclusion” between the two biggest economies in the world. According to the report.
After imposing a large tariff rate on China, Beijing retaliated with a 125% tariff on US products. Trump has suspended 90-day mutual tariffs in most countries, leaving room for negotiation, but China has been specifically excluded from the reprieve.
China is using other economic measures to return to the United States in an escalating trade war, including suffocating the exports of important minerals and magnets.
“The United States must respond to the reasonable voice of the international community and thoroughly remove all unilateral tariffs imposed on China if it wants to resolve the issue within its own borders,” the commercial spokesman said Thursday.
