Chinese Foreign Ministry spokesman Geng Shuang said in a regular press briefing that “adding tariffs can’t resolve any problem” of trade conflicts. “Talks are by their nature a process of discussion. It’s normal for both sides to have differences. China won’t shun problems and is sincere about continuing talks,” he added.
Shuang also said “We hope the U.S. side can work hard with China, to meet each other halfway, and on the basis of mutual respect and equality, resolve each other’s reasonable concerns, and strive for a mutually beneficial, win win agreement.”
Vice Premier Liu He will still travel to the US on May 9-10 to resume trade negotiations despite re-escalated tariff threats. That’s a slight delay comparing to the original plan of traveling to the US on Wednesday.
It’s widely reported that China reneged on the commitments it made, explicitly with the new draft agreement sent to the US over the weekend. Both US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin confirmed that. And it’s seen as the trigger for Trump to declare trade war escalation to full blown level this Friday.
Mnuchin also confirmed that “the entire economic team … are completely unified and recommended to the president to move forward with tariffs if we are not able to conclude a deal by the end of the week.”
