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China confirms vice-premier Liu He will visit US for trade talks China confirms vice-premier Liu He will visit US for trade talks
(32 minutes later)
China’s top trade negotiator will travel to Washington this week, according to the country’s ministry of commerce, tempering fears that talks to resolve a protracted trade war between the US and China had been scuppered. China’s chief trade negotiator will travel to Washington this week, according to the commerce ministry, tempering fears that talks to resolve a protracted trade war between the US and Beijing had been scuppered.
Vice-premier Liu He will hold negotiations in Washington on Thursday and Friday, according to the ministry , which did not elaborate on the agenda of the discussions. Liu He, a vice-premier, will hold negotiations in Washington on Thursday and Friday, according to the Chinese ministry, which did not elaborate on the agenda.
Beijing has been largely muted in its response to president Donald Trump’s threat on Sunday to raise tariffs on $200bn (£153bn) worth of Chinese goods to 25% from 10% by the end of the week. On Monday, US trade representative Robert Lighthizer said China had gone back on commitments previously made in talks. Beijing has been largely muted in its response to Donald Trump’s threat on Sunday to raise tariffs from 10% to 25% on $200bn (£153bn) of Chinese goods by the end of the week. On Monday, the US trade representative, Robert Lighthizer, said China had gone back on commitments previously made in talks.
Why did Trump threaten to raise China tariffs – and what now?Why did Trump threaten to raise China tariffs – and what now?
“Adding tariffs can’t resolve any problem,” Geng Shuang, a spokesman for the ministry of foreign affairs said on Tuesday in a regular press briefing. “Talks are by their nature a process of discussion. It is normal for both sides to have differences. China won’t shun problems and is sincere about continuing talks,” he said. Speaking on Tuesday at a regular press briefing, Geng Shuang, the foreign ministry spokesman, said: “Adding tariffs can’t resolve any problem. Talks are by their nature a process of discussion. It is normal for both sides to have differences. China won’t shun problems and is sincere about continuing talks.”
While the official Chinese stance has remained restrained, an editorial published in state media outlets including the People’s Daily and Xinhua on Tuesday, took a stronger tone, calling out the US for attempting to place “extreme pressure” on China before talks. While the official Chinese stance has remained restrained, an editorial published in state media outlets including the People’s Daily and Xinhua took a stronger line, calling out the US for attempting to place “extreme pressure” on China.
“The US needs to recognise the situation and see where its best interest lie ... before that day, maintaining strength is the most important factor in dealing with the Sino-US issue. No matter what the situation is, the pace of our development will not change and cannot change,” said the editorial, published under the WeChat account Taoran Notes. “The US needs to recognise the situation and see where its best interest[s] lie … before that day, maintaining strength is the most important factor in dealing with the Sino-US issue. No matter what the situation is, the pace of our development will not change and cannot change,” said the editorial, published under the WeChat account Taoran Notes.
“Things we believe are advantageous for us, we will do without anyone asking. Things that are unfavourable to us no matter how you ask we will not take any step back. Don’t even think about it,” it said, adding that the Chinese economy’s recent recovery shows the country’s resilience. “Things we believe are advantageous for us, we will do without anyone asking. Things that are unfavourable to us, no matter how you ask, we will not take any step back. Don’t even think about it,” the editorial said, adding that the Chinese economy’s recent recovery shows the country’s resilience.
Bai Ming, the deputy director of the Ministry of Commerce’s International Market Research Institute, told the state-run Global Times on Monday: “The US should know by now that China will never give in to pressure.” Bai Ming, the deputy director of the commerce ministry’s international market research institute, told the state-run Global Times on Monday: “The US should know by now that China will never give in to pressure.”
Despite signalling its resolute stance, the fact that China is still sending a delegation may be a sign of Beijing’s eagerness to reach a deal.Despite signalling its resolute stance, the fact that China is still sending a delegation may be a sign of Beijing’s eagerness to reach a deal.
“China needs a deal more than the US and the last thing it wants is to see tariffs go up to 25%,” said Diana Choyleva, the chief economist at Enodo Economics, pointing out that the resumption of talks this week is some cause for optimism. “This is a positive sign, although it doesn’t mean there won’t be more nasty bumps along the road to a deal,” she said. Diana Choyleva, the chief economist at Enodo Economics, said: “China needs a deal more than the US, and the last thing it wants is to see tariffs go up to 25%” She pointed out the resumption of talks is a cause for optimism. “This is a positive sign, although it doesn’t mean there won’t be more nasty bumps along the road to a deal,” Choyleva said.
On Tuesday, Germany’s economy minister and France’s finance minister both called on the US and China to resolve the trade war. Christine Lagarde, the head of the International Monetary Fund, said: “For us at the IMF, it’s imperative that trade tensions are resolved in a way satisfying for everyone because clearly tensions between the US and China are the threat to the global economy.” On Tuesday, Germany’s economy minister and France’s finance minister both called on the US and China to resolve the trade war. Christine Lagarde, the head of the International Monetary Fund, said: “For us at the IMF, it’s imperative that trade tensions are resolved in a way satisfying for everyone, because clearly tensions between the US and China are the threat to the global economy.”
International tradeInternational trade
Economics
Global economy
ChinaChina
Chinese economy
Donald TrumpDonald Trump
Asia Pacific Trump administration
Economics
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