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China has buckled to the recent trade firepower unleashed by the United States government led by President Donald Trump and is presently seeking end to the trade friction that has engulfed the two countries.
An official from China’s Ministry of Commerce said on Tuesday that his country is ready to restart high-level trade talks with U.S. depending on the willingness of the Western superpower.
Wang Shouren, China’s vice minister of commerce and deputy China international trade representative, made the remarks at a press conference held by the State Council Information Office (SCIO) in Beijing.
Wang said that China’s door to resolving the friction through consultation and dialogue is open but that it totally depends on America.
His response followed questions about China’s rejection of the US’ trade talk invitation and whether China is willing to restart negotiations.
He added that there are two premises for talks: equality and trust.
“It is impossible to restart trade talks with the US now as it has implemented such a large-scale tariff restriction on China.
“It’s like holding a knife to someone’s throat; how can the negotiations proceed?” stated Wang.
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Wang went on to say that there have been four rounds of negotiations between the two sides, and the two countries had reached some consensus after the talks.
However, the US side just turned its back on those agreements and abandoned them, which made further talks impossible.
“As long as there are sincerity and equality, and both sides abide by their promises, we can sort out a way through the trade dispute by negotiating,” he stressed.
China on Monday revealed a white paper aiming at clarifying its stance on the escalating trade war between the two countries.
The document blamed US President Donald Trump of bullying trade practices and economic intimidation, while also calling for the world’s two largest economies to cooperate and manage their differences.
