Shaun
China has denied conducting any talks with the United States over trade disputes, despite US President Donald Trump’s claim that he received a call from Xi Jinping.
Donald Trump’s claim
On Friday, Trump, in an interview with Time magazine, claimed that China reached out to him. However, he did not specify the details regarding the call.
“He’s called,” Trump said. “And I don’t think that’s a sign of weakness on his behalf,” the US President said.
China denies Trump’s claim
On Thursday, China’s commerce ministry denied that Beijing and Washington were conducting any economic or trade negotiations.
“There have been no consultations or negotiations between China and the United States on tariff issues, let alone any agreement,” the report quoted a statement posted on WeChat.
It did not refer to Trump or Jinping but mentioned that report on dialogue or an agreement is “nothing but misleading”.
“This trade war was initiated by the US side,”If the US truly wants to resolve the issue through dialogue, it must first correct its mistakes, stop threatening and pressuring others, and completely remove all unilateral tariff measures against China,” it added.
What does China plan to do?
China’s Foreign Minister Wang Yi said Beijing will abide with all international rules on US tariffs and opposes protectionism, reported news agency Reuters. He also asserted that China will work with other countries and expose “extreme egoism” and the bullying of certain countries.
Trade war
The latest development in the trade relations between the United States and China comes amid an escalating trade war between the two biggest economies of the world. The trade war began after the US imposed reciprocal tariffs on all trading partners. Following this, China levied retaliatory tariffs.
The trade war escalated after the birth of the economies started a tit-for-tat tariff policy with duties up to 145 per cent on many products.
Trump softens his stance
Meanwhile, Trump recently softened his stance towards China after US markets crashed over tariffs imposed on Beijing.
Trump proposed to be “very nice” to China during any trade talks initiated between the two countries, and the tariffs would decline if they could reach a deal, indicating a change from his tough stance on Beijing amid market volatility.
“It will come down substantially but it won’t be zero,” Trump said Tuesday in Washington. Trump further said, “we’re going to be very nice and they’re going to be very nice, and we’ll see what happens.”
Responding to Trump’s statement, the Foreign Ministry of China was quoted by Reuters, “US can’t say it want to reach an agreement with China and on the other hands keeps exerting extreme pressure.”
