China open to US talks, but not with knife threat

By BLOOMBERG

BEIJING • China said it’s open to talking on the trade dispute, but it needs the US to show sincerity and not put a knife at Beijing’s throat.

The US trade restrictions are responsible for the stalled talks and any resumption is up to them, according to Wang Shouwen (picture), China’s vice commerce minister.

The two sides had previously reached some consensus in four rounds of talks, and Beijing has no idea why the US went back on what they’d agreed, he told reporters yesterday.

There is no sign that the US will resume negotiations, with President Donald Trump threatening further tariffs and a US official telling farmers they should diversify away from the Chinese market.

The comments yesterday from Beijing show that China isn’t backing down either, after the two sides imposed increased levies on each other earlier this week.

China won’t sacrifice it’s right to develop its economy for trade talks and won’t reverse course, but will deepen the ongoing reforms of its economy.

The economy is resilient and can resist the risks from the trade dispute, National Development and Reform Commission vice chairman Lian Weiliang said at the briefing.

The nation will boost domest ic consumption, investment and improve private business sentiment to counter the impact from the dispute with the US, and will also enhance cooperation with the European Union, Japan, Russia and Asean nations, he said.