Punishing US tariffs that have reached 145% on many Chinese products came into force in April while Beijing has responded with fresh 125% duties on imports from the US
China has said that it is evaluating a US offer for negotiations on tariffs but wanted Washington to show “sincerity” and be ready to scrap levies that have roiled global markets and supply chains.
Punishing US tariffs that have reached 145 percent on many Chinese products came into force in April while Beijing has responded with fresh 125 percent duties on imports from the United States. High-end tech goods such as smartphones, semiconductors and computers have received a temporary reprieve from US tariffs.
President Donald Trump has repeatedly claimed that China has reached out for talks on the tariffs, and this week said he believed there was a “very good chance we’re going to make a deal.” Beijing’s commerce ministry on Friday confirmed the US had reached out and that it was “currently evaluating” the offer.
But, it said, any talks would first require sincerity from the US side.
“If the US wants to talk, it should show its sincerity to do so, be prepared to correct its wrong practices and cancel unilateral tariffs,” the ministry said.
“In any possible dialogue or talks, if the US side does not correct its wrong unilateral tariff measures, it just means the US side is completely insincere and will further damage the mutual trust between the two sides,” it added.
“Saying one thing and doing another, or even attempting coercion and blackmail under the guise of talks will not work,” the commerce ministry said.
Dozens of countries face a 90-day deadline expiring in July to strike an agreement with Washington and avoid higher, country-specific rates. But Beijing had vowed to fight a trade war to the bitter end if needed, with a video posted on social media this week by its foreign ministry vowing to “never kneel down!”
But it has acknowledged global economic vicissitudes have strained its economy, long dependent on exports, with officials admitting that foreign-facing firms are facing difficulties. Data this week showed factory activity shrank in April, with Beijing blaming a “sharp shift” in the global economy.
Chinese exports soared more than 12 percent in March as businesses rushed to get ahead of the swingeing tariffs. Earlier, Deputy Chief of Staff for Policy and Homeland Security Advisor, Stephen Miller, has outlined the US trade goals with China, emphasising the need for a balanced relationship that protects American economic and national security interests.
On the occasion of the completion of the 100th day of the Trump administration, Miller stressed that the US will not allow China to steal American intellectual property, illegally dump and subsidise goods in the US market, manipulate its currency, or rack up an unsustainable trade deficit.
Miller said, “China is a unique situation. Obviously, the President (Trump) has talked at length about what happened to us economically since China’s entrance into the World Trade Organization and the trillions and trillions of dollars of trade deficits that we’ve racked up with China over the period of that time and what that’s meant for our national security, what that’s meant for economic security, what that’s meant for our supply chains. Obviously, right now, the Secretary of the Treasury is in the process of developing a plan that will answer the questions that you’re talking about. Still, the president’s goals have been very clear on these points, which is that he is not going to allow China to continue to steal our intellectual property, to continue to illegally dump and subsidise their goods in our markets, to manipulate their currency, to rack up an unsustainable trade deficit.”
He further added, “We need to have a trade relationship with China that does not harm our nation’s economic and national security, and that has to be the guidepost of any objective. At the same time, tariffs will bring significant revenue into this country, which will allow us to pursue our dramatic plan of tax cuts and reforms.”
During a press briefing by US Press Secretary Karoline Leavitt, Miller emphasised that the US will evaluate trade deals with other countries based on their potential to serve American interests. He noted that countries worldwide are eager to make trade deals with the US, and President Trump will personally ensure that these negotiations prioritise American interests.
