The Chinese Commerce Ministry said on Friday that Beijing was evaluating an offer from Washington to hold talks over US President Donald Trump’s crippling tariffs, signalling a potential de-escalation in the trade war that has roiled global markets.
The ministry said the United States has approached China to seek talks over Trump’s 145% tariffs, adding that Beijing’s door was open for discussions.
In a statement, the ministry said that the US should be prepared to take action in “correcting erroneous practices”; and cancel unilateral tariffs, adding that Washington needed to show “sincerity”; in negotiations.
“The U.S. has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China.
“Attempting to use talks as a pretext to engage in coercion and extortion would not work,”; the statement said.
China has repeatedly denied that it was seeking to negotiate a way out of the tariffs with the United States.
The decision of Trump to single Beijing out for import duties of 145% is said to have come at a particularly difficult time for China, which is struggling with deflation due to sluggish economic growth and a prolonged property crisis.
Meanwhile, Beijing has expressed its anger at the tariffs, which it said were tantamount to bullying and cannot stop the rise of the world’s second-largest economy.
China, alongside leveraging its propaganda machine to hit back at the duties, has reportedly quietly created a list of US-made products it will exempt from its retaliatory 125% tariffs – including select pharmaceuticals, microchips and jet engines.
