China ‘assessing’ US tariff discussions
(MENAFN) China is currently "assessing" the US's proposals to initiate tariff negotiations, according to the Chinese Commerce Ministry. Senior US officials have reportedly reached out to Beijing through intermediaries, suggesting the possibility of talks.
Tensions between the two economic giants have escalated following US President Donald Trump's decision to impose a 145% tariff on Chinese imports last month, as part of a broader effort targeting more than 90 trading partners. Although most new tariffs were put on hold for 90 days, China remains excluded from this reprieve, with a baseline 10% tariff still in effect. In retaliation, Beijing implemented a 125% tariff on US goods and imposed export restrictions.
The Commerce Ministry acknowledged the recent US communication and stated that it is evaluating the offer to begin discussions. However, it emphasized that trust would be eroded if unilateral tariffs remain in place. "The US has sent messages to China through relevant channels, hoping to start talks, and China is currently assessing this," the ministry stated.
President Trump previously indicated that tariffs could be significantly reduced and mentioned the possibility of a "fair deal" with China. He also claimed that his administration was in active talks with Beijing and that he had spoken with Chinese President Xi Jinping by phone. Last week, Secretary of State Marco Rubio suggested that China had reached out to Washington, but China denied this and accused the US of spreading misinformation.
In its statement, the Chinese Ministry stressed that the US must demonstrate sincerity by removing the tariffs before meaningful discussions can occur. "If we fight, we will fight to the end; if we talk, the door is open," the statement declared, adding that China would only enter negotiations in good faith. "Contradicting words and actions, or attempting coercion under the guise of talks, will not work with China."
Analysts anticipate that discussions could begin soon, given recent market instability and the IMF's downward revision of global growth projections due to ongoing trade uncertainties. However, some speculate that formal talks might only be announced once the US and China privately agree on the terms of a potential tariff agreement.
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