The Latest on trade tensions between the United States and China (all times local):
China’s foreign ministry says the country is open to resuming trade talks with the U.S., but sincerity and mutual respect are needed. Spokesman Lu Kang said Thursday that China hopes for a restart to talks that broke down earlier this month after the U.S. hiked tariffs on $250 billion in Chinese imports.
Lu said, “China is open to the door of dialogue, but sincerity is indispensable to make a consultation meaningful. A mutually beneficial agreement must be based on mutual respect, equality and mutual benefit.”
He reiterated China’s criticism of U.S. efforts to restrict commercial cooperation with equipment maker Huawei and other Chinese high-tech firms. He said Washington has “seriously affected the development and cooperation of global science and technology, and has also harmed the vital interests of relevant enterprises and countries.”
China is seeking to support from some of its Asian neighbors and Russia in its escalating tariff fight with the U.S.
Speaking Wednesday at a meeting of the Shanghai Cooperation Organization in Kyrgyzstan, Foreign Minister Wang Yi said representatives of the eight-nation grouping had expressed “broad support” for China’s position.
Wang reiterated China’s stance that it would never accept unequal trading arrangements. He said Beijing will match “extreme pressure” from the U.S. with its own measures.
Beijing has already responded to Trump’s tariff hikes on $250 billion of Chinese imports by slapping penalties on $110 billion of American goods. Based on last year’s trade, that leaves about $45 billion in imports from the U.S.
That includes semiconductors and other critical inputs needed by fledgling Chinese tech industries.