China hopes US will create conditions necessary for September trade talks

China's Commerce Department expects favorable results in a face-to-face trade negotiations with the United States in September, as tensions between the world's two largest economies grow.

The Chinese clerk counts US dollar bills against the RMB Yuan banknotes of the bank in Nantong City Hai Anxi, Jiangsu Province, China. August 6, 2019.

The Chinese clerk counts US dollar bills against the RMB Yuan banknotes of the bank in Nantong City Hai Anxi, Jiangsu Province, China. August 6, 2019.
(Reuters Archive)

China and the United States are discussing the next face-to-face trade talks scheduled for September, but progress will be made as to whether Washington can create favorable conditions, the Commerce Department said Thursday.

US President Donald Trump said Friday that a trade war between the world's two largest economies will result in an additional 5{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} obligation to $ 550 million of Chinese goods.

A few hours have passed since China announced the retaliatory tariffs on US goods worth $ 75 billion.

China hopes the United States can cancel the planned additional tariffs to avoid widening the trade war, Commerce Department spokesman Gao Feng told reporters Thursday.

& # 39; Required condition & # 39;

"The most important thing at the moment is to create the necessary conditions for the two sides to continue the negotiations," he added, during a weekly briefing that China has a "solute representation" with the United States.

The Trump administration has been pressing for two years to remove what China calls unfair trade practices and to drastically change its policy on intellectual property protection, forcible transfer of technology to Chinese companies, industrial subsidies and market access.

But China has steadily rejected these accusations, preventing counterattack and blaming US measures as protectionists.

Gao said that China has "sufficient" measures to retaliate against planned US tariffs, but in the current situation talks should focus on whether tariffs can be canceled.

He did not respond directly when China offered not to retaliate against the latest tariff threat from the United States.

China has repeatedly said that there is no choice but to retaliate if the US is threatened.

On Monday, Trump predicted trade negotiations with China, pointing out economic pressures on Beijing and loss of jobs, saying he truly believes in reaching the deal.

& # 39; Effective Communication & # 39;

President Trump has said China's vice-president Liu He, who is leading talks with Washington, is willing to resolve the issue through "true" negotiations.

He declined to confirm, suggesting resumption of negotiations, repeating claims that Chinese officials had contacted US trade partners overnight.

Gao declined to provide more information when asked if there was a phone call between Beijing and Washington this week.

"As far as I know, the two trade teams maintained effective communication," he said.

In July 2018, the US-China trade dispute began with tariffs on hundreds of millions of dollars of different goods, driving all trade between countries, putting global growth at risk.

Gao said, "I want America to show sincerity and concrete behavior."

Source: Reuters

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