China has stated that it is looking into US proposals to start discussions of US President Donald Trump’s extensive tariffs.
According to a statement released on Friday by China’s Ministry of Commerce, the US has “recently actively communicated messages to China, expressing a desire to engage in discussions.”
China is currently going over this.
Beijing’s comments follow a report earlier this week from Chinese state media that the Trump administration had “proactively reached out” via various channels.
The two largest economies of the world have a de facto reciprocal trade embargo as a result of Trump’s trade war with China.
Businesses and investors have been anticipating signs that Beijing and Washington will ease their stringent tariffs on each other’s goods amid concerns that a drawn-out standoff will seriously harm the world economy.
The International Monetary Fund cut its forecast for 2025’s global growth by 2.8%, down from 3.3% in January, and JPMorgan Chase has predicted a 60% chance of a US recession this year.
According to Christopher Beddor, deputy China research director at the financial services company Gavekal Dragonomics, China appears to be sincere about opening talks if the US is serious.
They already have tariffs in place, but they also have export controls, according to Beddor, who cited the US company’s ability to launch additional investigations.
“The list goes on,” he continued. Most importantly, they are prepared to spur economic growth by reducing the impact. However, because there was a de-escalation, policymakers are also acutely aware that using those tools would be much better.
Trump has repeatedly asserted that his administration is engaging in negotiations with Beijing, a claim that Chinese officials have rejected as “groundless,” while imposing a 145 percent tariff on Chinese exports.
Trump stated on Wednesday that there was a “very good chance” that a trade agreement with China would be “fair.”
China’s Commerce Ministry stated in a statement on Friday that it had maintained a consistent position on the trade dispute.
The ministry declared that “if a fight occurs, we will fight until the end,” and that “the door is open” when it comes to negotiations.
The US unilaterally initiated the tariff war and trade war, and if China wants to talk, it should show sincerity by preparing to correct its errors and rescind the unilateral imposition of additional tariffs, it said.
“Wake up call!”
US Secretary of State Marco Rubio claimed that Beijing was eager to talk to Trump about how his tariffs were seriously affecting the Chinese economy in an interview with Fox News on Thursday night.
According to Rubio, “The Chinese are reaching out, they want to meet, they want to talk.” There are people involved in that, they say.
Rubio added that the country should no longer be as dependent on China as it was in the tensions, and that they were a “wake-up call” for the US.
He predicted that if we go this route again in two years, we will be in great trouble and will be incredibly dependent on China. So, I do believe there is a more general debate over whether or not we should purchase anything from them.
Source: Aljazeera
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