Beijing: It was impossible to hold trade talks with the United States while Washington is imposing tariffs that are like “holding a knife to someone’s throat” says China. Vice commerce minister Wang Shouwen said on the activated tariff on $200 billion in Chinese goods that China is open to negotiations but that the two sides must treat each other with respect and equality.
At a press conference Wang told to reporters that “ Now that the US has adopted this type of large-scale trade restrictions, they are holding a knife to someone’s throat. In these circumstances how can negotiations proceed?
While holding a new talk earlier US Treasury Secretary Steven Mnuchin had invited Chinese officials, but President Donald Trump’s warned that another $267 billion of goods being lined up- appear to have scuttled that effort. In addition, Wang met officials of US in August but there have been no high-level meeting between the world’s top two economies for months.
On a met note, Wang said that the US measures “ have made it impossible for the negotiations to proceed and blamed the US for abandoning a consensus in a trade that was stuck in May, and quickly followed by new US tariffs.
As the US assess two waves of new tariffs that hit about $ 250 billion worth of goods, roughly half of China’s exports to the United States. Through the summer the trade fight between the two economic giants has steadily escalated.
China Beijing does not take time to hit back at the US and soon hit $110 billion worth of US goods, or nearly everything China buys from the United States. The Beijing officials mentioned that they stand to support for harmed industries and companies as they seek to offset the trade war’s effects. Also announced a plan to reduce taxes exporters have to pay and to cut costs for exporters. While talking about companies would fare in the trade war Vice Minister and Information Technology Luo Wen said “ We will actively take all types of measures to help companies resolve their difficulties.” he also added that China will plan to reduce taxed and burdens for companies and strive to optimise the business environment.”