Tuesday, 02 January 2024 12:17 GMT

China Demands Fair Talks as U.S. Escalates Tariff Conflict


(MENAFN) China asserted on Wednesday that the U.S. must cease its "threatening" and "coercing" tactics if it wants to resolve the ongoing tariff conflict through dialogue.

Chinese Foreign Ministry spokesperson Guo Jiakun addressed the issue, stating that for negotiations to be meaningful, the U.S. must approach China with respect and fairness, without exerting undue pressure. “If the US truly wishes to resolve issues through negotiations, it should stop threatening and coercing and engage in talks with China based on equality, mutual respect, and reciprocity,” Guo stated, as reported by media sources.

Guo’s remarks followed a statement from U.S. President Donald Trump, who described the 145% tariffs on Chinese products as "very high," suggesting they would be "significantly reduced but it won't be zero." In response, Guo criticized the U.S. approach, stating, "Saying one thing while putting maximum pressure on China is not the right way to engage with China, nor will it work."

U.S. Treasury Secretary Scott Bessent reportedly characterized the current situation as akin to a trade embargo but emphasized that the U.S. does not aim to completely sever ties with China. He suggested that a comprehensive trade agreement might be achievable within two to three years.

Earlier this month, Trump temporarily suspended his "reciprocal" tariffs on imports from several countries, excluding China. Meanwhile, the U.S. has intensified the trade dispute with Beijing, raising tariffs on Chinese goods to as high as 145%. Trump has even warned that the tariff rate on Chinese exports could soar to 245%.

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