U.S. President Donald Trump takes part in a welcoming ceremony with China’s President Xi Jinping.
China and the United States have agreed to keep talking about their trade dispute, the Chinese government said on Tuesday, as U.S. President Donald Trump said he thought recent discussions in Beijing would be successful.
The slightly more optimistic comments came after both sides ramped up their trade war, with China announcing details of new tariffs against U.S. imports on Monday, following a U.S. move last week to target Chinese imports.
The U.S. Trade Representative’s office said it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China.
The prospect of the global economy being derailed by the United States and China sliding into a fiercer, more protracted dispute has rattled investors and sparked a sharp selloff on equities markets in the past week.
“My understanding is that China and the United States have agreed to continue pursuing relevant discussions.
As for how they are pursued, I think that hinges upon further consultations between the two sides,” Chinese Foreign Ministry spokesman Geng Shuang told a daily news.
But China will not be bullied, he added: “We hope that the U.S. side does not misjudge the situation and not underestimate China’s determination and will to safeguard its interests.”
Geng said China had shown sincerity by still sending a high level delegation to the United States for talks last week and that China has remained calm in the face of pressure.