China-US trade talks

Beijing says currently ‘impossible’

BEIJING: China warned yesterday that trade talks with the United States were “impossible” under current conditions after President Donald Trump reassured markets by suggesting that the dispute could be resolved, reports AFP.
The two sides have announced tit-for-tat tariffs and threatened to hit each other with more duties, raising the prospect of a trade war that could rattle the global economy.
Asian markets rose on Monday after Trump tweeted that he saw an end to the escalating dispute before the higher tariffs threatened on hundreds of billions of goods would come into effect.
But China’s foreign ministry was less sanguine.
“Up to now, Chinese and US officials have not held any negotiations on the trade dispute,” foreign ministry spokesman Geng Shuang told reporters during a regular press briefing.
“Under the current conditions, it is impossible for the two sides to have any negotiations on this issue,” Geng added.
A few hours later, Trump returned to tougher talk with an early-morning tweet railing against China’s duties on US cars.
“When a car is sent to the United States from China, there is a Tariff to be paid of 2 ½%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%,” Trump tweeted.
“Does that sound like free or fair trade. No, it sounds like STUPID TRADE—going on for years!”

 

China-US trade talks

Beijing says currently impossible

BEIJING: China warned yesterday that trade talks with the United States were impossible under current conditions after President Donald Trump reassured markets by suggesting that the dispute could be resolved, reports AFP. The two sides have announced tit-for-tat tariffs and threatened to hit each other with more duties, raising the prospect of a trade war that could rattle the global economy. Asian markets rose on Monday after Trump tweeted that he saw an end to the escalating dispute before the higher tariffs threatened on hundreds of billions of goods would come into effect. But Chinas foreign ministry was less sanguine. Up to now, Chinese and US officials have not held any negotiations on the trade dispute, foreign ministry spokesman Geng Shuang told reporters during a regular press briefing. Under the current conditions, it is impossible for the two sides to have any negotiations on this issue, Geng added. A few hours later, Trump returned to tougher talk with an early-morning tweet railing against Chinas duties on US cars. When a car is sent to the United States from China, there is a Tariff to be paid of 2 %. When a car is sent to China from the United States, there is a Tariff to be paid of 25%, Trump tweeted. Does that sound like free or fair trade. No, it sounds like STUPID TRADEgoing on for years!