China to US: No concessions if you impose sanctions
China yesterday warned the US that trade negotiations would be void if it imposes tariffs on Chinese goods, as the latest round of talks organised to avert a trade war between the two largest economies ended here
US commerce secretary Wilbur Ross (second from left) and Chinese Vice Premier Liu He, (right). Pic/AFP
China yesterday warned the US that trade negotiations would be void if it imposes tariffs on Chinese goods, as the latest round of talks organised to avert a trade war between the two largest economies ended here.
Chinese and US teams, led by Chinese Vice Premier Liu He and US Secretary of Commerce Wilbur Ross, held economic and trade consultations in Beijing, an official statement here carried by state-run Xinhua news agency said yesterday.
But at the same time, it warned that the outcome of the talks should be "based on the prerequisite that the two parties meet each other halfway and not engage in a trade war". "If the US introduces trade sanctions including tariff increases, all economic and trade achievements negotiated by the two parties so far will be void," said the Chinese statement. The US has not released its statement on the talks.
'Trade war' tattle
> Last month, Trump had threatened punitive measures against Chinese goods if China doesn’t cut down the trade deficit by $100 billion in a month and $200 billion by 2020.
> China too threatened a tit-for-tat but blinked with an undertaking to import more goods from the US, sparking off concerns over the likely trade war.
> Since then both the countries have been negotiating.
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