China To Trump: Let's Talk With A 'Calm Attitude'

China takes US tariffs case to WTO

China's commerce ministry also said a September round of meetings was being discussed by the two sides, but said it was important for Washington to cancel a tariff increase.

A spokesman for China's ministry of commerce said Thursday that his country is willing to resolve the trade dispute "with a calm attitude", according to multiple reports. It remains unclear whether US and Chinese negotiators will resume in-person talks in September as previously suggested by USA officials.

The Dow and the broader USA stock market rallied sharply Thursday, buoyed by hopes that trade tensions between the United States and China might ease.

Chinese and US trade negotiating teams are maintaining effective communication, China's Foreign Ministry said on Friday, less than 48 hours before USA tariffs kick in on an additional $125 billion in Chinese goods.

The comments were widely interpreted as an indication that China will not retaliate when new USA tariffs on $300 billion in goods come into effect on 1 September.

"We hope the United States will show sincerity and concrete actions", Gao said.

More than 200 USA footwear companies on Wednesday said the added 15 per cent duties on shoes would come on top of tariffs that already average 11 per cent and reach 67 per cent on some shoes, boosting costs for consumers by $4 billion every year.

He repeated his assertion that Chinese officials had contacted US trade counterparts overnight, offering to resume negotiations, a statement that China declined to confirm.

Mega Public Sector Banks merger: 10 banks amalgamated into 4-entities
Union Bank of India will subsume with Andhra Bank and Corporation Bank to turn into the fifth largest state-owned bank. The development comes a week after the government announced a number of major policy decisions to revive the economy.

"If China were to head to the USA for negotiations, the two sides should work together to create conditions for the talks to achieve progress", Gao said.

"I think they want to make a deal, I sort of think they have to make a deal".

But Beijing retaliated with new tariffs on U.S imports in the third week of August triggering a harsh response from Trump who hiked the new tariffs from 10 to 15 percent. "We'll see what happens".

Before announcing the tariff hikes, Trump wrote on Twitter that he would order USA companies to "immediately start looking for an alternative to China", including the relocation of manufacturing to the U.S.

Trump added that federal aid to farmers was being funded by tariff collections on Chinese goods.

"In short, instead of addressing the underlying problems, China has increased tariffs and adopted or threatened additional retaliation to further protect the unreasonable acts, policies, and practices identified in the investigation, resulting in increased harm to the US economy", USTR said in the notice.

During the interview, the president repeated concern China is "ripping off" the United States and stealing intellectual property.

The Ministry spokesperson also urged the USA to call off the imposition of additional tariffs to avoid further escalation in the trade dispute.

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