See More on Facebook

Business, Economics

China ‘sincere’ on trade talks

Talks are set to continue in Washington on Friday.


Written by

Updated: May 10, 2019

Chinese Vice-Premier Liu He said on Thursday that he came to Washington with sincerity to engage in “rational and candid” exchanges with the US to resolve some of their disparities.

Liu, also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, said that raising tariffs is harmful to China, to the US, and to the whole world.

“The Chinese side believes raising tariffs is not a solution to the problems,” he told the media upon his arrival on Thursday afternoon.

Liu was here to attend the 11th round of China-US high-level economic and trade consultations, scheduled to end on Friday. The negotiations, following the talks in Beijing a week ago, came four days after US President Donald Trump’s tweeted threat on Sunday to increase the tariff rate from 10 to 25 percent on $200 billion worth of Chinese goods.

Liu said that the fact that he came this time despite the pressure indicates the utmost sincerity of the Chinese side.

Earlier on Thursday in Beijing, China’s Ministry of Commerce spokesman Gao Feng also said Liu’s visit to the US shows China’s “responsible attitude toward and sincerity in advancing consultations”.

Gao said the Chinese side hopes that the US can resolve existing economic and trade issues with China through cooperation and consultation, to the benefit of all, instead of through tariffs.

Noting that no one wins in a trade war, Gao said China hopes the US will address trade issues through dialogue rather than unilateral measures. The peaceful resolution of the trade tensions meets the expectations of the entire world.

China has always kept its promises, Gao told reporters. “Negotiation is a process of exchanging opinions, solving problems and reaching consensus. It is normal for both sides to have different views.”

Also on Thursday, Foreign Ministry spokesman Geng Shuang said China hopes the two countries can meet halfway and achieve a mutually beneficial trade agreement on the basis of respecting each other.

The planned US tariff increase on $200 billion worth of Chinese imports from 10 percent to 25 percent starting on Friday was filed by the Office of the US Trade Representative, and the filing appeared on Wednesday in the Federal Register.

The Ministry of Commerce announced late on Wednesday that China will have to take necessary countermeasures if the US tariff increase takes effect.

Beijing opposes unilaterally imposed tariffs, and will be fully prepared to defend its interests in resolving trade disputes, Gao said. “China will not succumb to any pressure,” he said.

US business communities described the planned US tariffs targeting China as the worst outcome and urged the government to avoid escalating tensions and wrap up negotiations with China.

In what could easily be described as the worst outcome for US soybean growers, the Trump administration confirmed what the industry has feared for months, the American Soybean Association said in a statement.

In another development, the Ministry of Commerce announced on Thursday that China will continue reviewing the anti-dumping measures against a special category of steel pipes imported from the US and the European Union. During the scheduled one-year review period starting on Friday, the anti-dumping duty for certain US steel products will remain at 14.1 percent, while that for EU products will be 13 to 13.2 percent.



Enjoyed this story? Share it.


About the Author: ANN’s Board member Ms Esther Ng, Malaysia’s The Star’s Chief Content Officer, has been bestowed the 2019 Asian Women Entrepreneurs Leadership Award in the Media and Communications category.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business, Economics

China pledges international pandemic aid

 Producers of medical goods urged to meet demand from affected countries. China has pledged to do its best to offer aid to countries and international organisations affected by COVID-19 to help contain the outbreak, and businesses are being urged to boost production of epidemic prevention materials to meet demand from abroad. The announcement was made at a meeting of the leading group of China’s coronavirus response, chaired by Premier Li Keqiang on Thursday. Relevant departments and local authorities must step up co-ordination to closely monitor and analyse the quick spread of the outbreak outside China and roll out more targeted measures to prevent the import and export of infection, the group said in a statement. It is important to further


By China Daily
March 13, 2020

Business, Economics

Back to work in Beijing, with tough measures in place

 Mandatory quarantine for those coming from overseas; some Wuhan businesses may reopen. As most of China attempts to return to normalcy after an extensive lockdown to curb the spread of the coronavirus, the capital Beijing has been carefully trying to strike a balance between having people restart work while also trying to keep out imported infections, and yesterday ordered a mandatory quarantine for all international arrivals. This comes as the Hubei government announced that some businesses in Wuhan, the outbreak’s epicentre, would gradually be allowed to reopen. On Tuesday, Chinese President Xi Jinping visited Wuhan, his first visit to the city since the outbreak, a sign that the crisis could finally be easing after the government’s toug


By The Straits Times
March 12, 2020

Business, Economics

Xi vows victory over coronavirus in Wuhan

President expresses condolences to families of people who died in epidemic. President Xi Jinping said on Tuesday that prevention and control of the novel coronavirus outbreak remains the top priority and most important task, even amid the recent positive signs. Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remark during his inspection tour in the outbreak’s epicentre, Wuhan, capital of Hubei province. The spread of the novel coronavirus has been basically curbed in Hubei and Wuhan, Xi said, adding that initial success has been made in stabilising the situation and turning the tide in Hubei and Wuhan. Xi encouraged local residents and front-line worke


By China Daily
March 11, 2020

Business, Economics

China sets example in fighting virus

Epidemic reveals inadequacies in global governance; Beijing says it’s ready to help. China’s response to novel coronavirus pneumonia has set an example for the world in coping with the contagion and offered experience in advancing global public health governance, officials and experts said. The COVID-19 outbreak has also raised the alarm about global public health security and reminded countries that co-operation and co-ordination are needed to deal with challenges as infectious diseases can rapidly escalate into global emergencies, they said. There is a growing positive momentum in epidemic control nationwide thanks to the “comprehensive, thorough and rigorous” measures that China has taken to contain the virus, they said, noting that the daily


By China Daily
March 10, 2020

Business, Economics

More than 800,000 people return Beijing under quarantine

“There’s still a risk of an outbreak of the disease with people coming to Beijing from other cities and countries,” Zhang Tongjun, deputy head of a group for prevention and control work in the city’s residential communities, said during an afternoon conference. About 827,000 people who came back to Beijing from outside the city are still in a 14-day quarantine to see if they had been infected with the novel coronavirus, an official said on Friday. “There’s still a risk of an outbreak of the disease with people coming to Beijing from other cities and countries,” Zhang Tongjun, deputy head of a group for prevention and control work in the city’s residential communities, said during an afternoon conference. Z


By China Daily
March 9, 2020

Business, Economics

South Korea declares third city as special care zone as cases spike

President Moon receives letter of support from North Korean leader as infected cases cross 6,000. South Korea has declared a third city a “special care zone” to boost its capability to fight a spike in coronavirus infections, with cases nationwide soaring beyond 6,000. The death toll stands at 42, mostly the elderly with underlying health conditions, while 88 people have recovered, including 47 discharged yesterday. The care zone announcement came as the presidential Blue House revealed that South Korean President Moon Jae-in received a letter on Wednesday from North Korean leader Kim Jong Un expressing support and comfort to the people battling the coronavirus outbreak, adding that he is confident they will “prevail in this fight wit


By The Straits Times
March 6, 2020