China is emphasizing its readiness to negotiate as the prospect of increased tariffs on its exports to the United States looms. The Ministry of Commerce in China has consistently communicated with relevant U.S. authorities regarding economic and trade issues. This dialogue comes at a critical time, as U.S. President Donald Trump has announced the possibility of raising duties on Chinese goods by 10% as early as February 1st. The proposed duties are part of the White House's broader plan to investigate China's actions that are deemed harmful to U.S. commerce.
During his campaign, President Trump suggested imposing 60% tariffs on China, a figure significantly higher than the current proposed 10%. This latest move reflects a more tempered approach compared to his initial proposition. Trump recently engaged in phone discussions with Chinese President Xi Jinping, where they addressed topics including TikTok and trade. Xi Jinping underscored the importance of cooperation and described the economic ties between the two nations as mutually beneficial.
China's Foreign Ministry spokesperson, Mao Ning, reiterated this sentiment, echoing comments from China's Ministry of Commerce spokesperson, He Yadong. Both officials emphasized China's ongoing communication with the United States and its commitment to fostering a stable trade relationship.
"China will also firmly defend its own interests," – Mao Ning
He Yadong emphasized that tariffs are detrimental not only to China and the U.S. but also to the global economy.
"Tariffs are not conducive to China or the U.S., or the entire world," – He Yadong
In his remarks, He Yadong expressed hope that both nations, under the strategic leadership of their respective heads of state, would effectively manage their differences and enhance dialogue.
"The Chinese side hopes that under the strategic guidance of the two heads of state, both sides will… strengthen dialogue and communication, properly manage differences, expand mutually beneficial cooperation and promote the stable and healthy development of China-U.S. economic and trade relations," – He Yadong
He further stated China's willingness to collaborate with the U.S. to steer bilateral economic and trade relations towards stability and sustainability.
"China is willing to work with the U.S. to push bilateral economic and trade relations in a stable, healthy and sustainable direction," – He Yadong
Meanwhile, President Trump has reaffirmed his intent to impose 25% tariffs on Mexico and Canada following his inauguration. Notably, the Chinese readout from Xi Jinping's conversation with Trump did not mention TikTok but rather focused on cooperation and mutually beneficial economic ties.
Leave a Reply