The US needs to correct its wrong actions if it wants to continue negotiations with China to end a damaging tariff war, China’s Commerce Ministry said on Thursday, adding that talks should be based on mutual respect.
“If the US would like to keep on talking, it should, correct its wrong actions with sincerity. Only then can talks continue,” said Gao Feng, spokesman of the minisrey, in a press briefing on Thursday.
“Bottomline should be set for negotiations and principles are needed for cooperation,” said Gao. “China will never compromise on major issue of principle.”
The United States has escalated trade frictions greatly, and increased chances of a global economic recession, spokesman Gao, adding that Beijing will take necessary steps to safeguard Chinese firms’ interests.
The US “crackdown on Chinese companies not only seriously damages the normal commercial cooperation between both countries, but it also forms a great threat to the security of the global industrial and supply chain,” Gao said. “China is firmly opposed to this. We will closely monitor developments and make preparations.”
US Treasury Secretary Steven Mnuchin said that a trip to Beijing has not been planned. US President Trump has said he plans to meet Chinese President Xi Jinping in late June at the G-20 meeting in Japan.
Trump administration unexpectedly announced earlier this month that tariffs on $200 billion worth of Chinese goods would increase to 25 prr cent from 10 per cent on May 10.
In the last two weeks, US government also put Chinese telecom giant Huawei on a blacklist that bans it from buying products from American companies without US government approval.
Google said Sunday it would cut businesses with Huawei to comply with the government order. But after the US temporarily eased some restrictions on trade for the telecom and smartphone company, Google said Tuesday it will work with Huawei over the next 90 days.
Gao note that Chinese government will safeguard legal interests of all foreign companies operating in China, including American firms.