China likely to send a delegation for trade talks with the US

China likely to send a delegation for trade talks with the US

Beijing: China is planning to send a delegation for trade talks with the US despite President Donald Trump’s recent threat to hike tariffs on $200 billion of Chinese goods, said Chinese Foreign Ministry spokesman Geng Shuang on Monday.

He also urged the US to “work” with China to “achieve a deal.”

“There have been many times that the US side has threatened to increase tariffs. China’s positions are clear and the US side is well aware of them,” South China Morning Post quoted Shuang, as saying.

“[We have hoped] to make progress in our trade talks and [we] hope the US side can work together with us and move in the same direction so we can achieve a deal that can benefit both sides,” he said.

“Everyone in China and abroad is very concerned about the next round of talks, and we are also learning about the relevant changes. The Chinese delegation is preparing to go to the US for the negotiations,” added Shuang.

In an abrupt move, US President Trump on Sunday threatened to increase tariffs on $200 billion of Chinese goods.

In a pair of tweets on Sunday, Trump wrote, “For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday.”

“325 Billion dollars of additional goods sent to us by China remain untaxed but will be short, at a rate of 25%.

The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” he added.

Trump’s threat and China’s reaction hold significance as the delegation led by Chinese Vice Premier Liu He is expected to reach Washington this week for the last round of trade talks.

The Trump Administration is reluctant both privately and publicly to remove tariffs from Chinese goods as a way to provide leverage that Beijing will keep its promises as part of any negotiation.

Both US and China have met for multiple rounds of talks, but the US President is delaying fresh tariffs on Chinese imports, previously scheduled to come into effect from March 1, in the wake of “fruitful talks” between the two countries.

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