Considering the U.S. tariff negotiation proposal, China calls for authenticity and good faith.
US tariffs that have soared up to 145% on various Chinese goods have been causing a stir since April, with China hitting back with fresh levies of 125% on American imports. High-tech items like smartphones, semiconductors, and computers have, for now, been given a temporary reprieve from these US tariffs.
American President Donald Trump has repeatedly stated that China has expressed interest in negotiating these tariffs, even going so far as to suggest a "very good chance" of reaching a deal this time around. His claims have been met with skepticism, however, as China insists that no formal negotiations or high-level discussions with the US over tariffs have taken place.
On a recent Friday, China confirmed receiving an offer for negotiations from the US but made it clear that sincerity from the US side was paramount. The Chinese commerce ministry stated that for any talks to take place, the US should demonstrate its willingness to correct its wrong practices and scrap existing tariffs. In any dialogue or negotiations, the ministry asserted that if the US failed to rectify its unilateral tariff measures, it would merely show the US's lack of true intentions and further erode mutual trust between the two nations.
The commerce ministry went on to warn that saying one thing and doing another, or resorting to coercion and blackmail in the guise of talks, would not achieve success. Countries facing a 90-day deadline to reach agreements with Washington to avoid higher, country-specific rates loom ahead, but China has promised to stand its ground in a trade war if necessary.
Recent data suggests that China's economy, which has long been dependent on exports, has been feeling the strain from the global economic turbulence. Factory activity shrank in April, with Beijing blaming a sudden shift in the global economy for the decline. However, exports surged more than 12% in March as businesses rushed to get ahead of the new tariffs.
While China has acknowledged the difficulties faced by foreign-facing firms, it has remained adamant that it will not back down from a trade war if necessary. A video posted by China's foreign ministry this week vowed, "We will never kneel down!" despite economic challenges.
Activity on online marketplaces like Temu and Shein, which cater to US consumers, has been affected by the ongoing tariff tensions. Behind the scenes, China has been calling for genuine and meaningful dialogue alongside concrete actions like tariff removal to improve trade relations.
- The ongoing US tariffs on Chinese goods, which have reached up to 145%, have been confirmed to have caused a significant stir in the economy, particularly in the high-tech industry like smartphones, semiconductors, and computers.
- The General-news has reported that President Donald Trump has expressed interest in negotiating these tariffs, claiming a "very good chance" of reaching a deal, but China has not yet confirmed any formal negotiations or high-level discussions with the US over these tariffs.
- In any negotiations, China has emphasized the importance of sincerity from the US side, stating that if the US wishes to correct its wrong practices and scrap existing tariffs, then only can genuine talks take place.
- Finance experts watch closely as countries like China face a 90-day deadline to reach agreements with Washington to avoid higher tariffs, with China vowing to stand its ground in a potential trade war.
- The politics surrounding the US-China tariff disputes have affected activity on online marketplaces catering to US consumers, and China continues to call for meaningful dialogue alongside concrete actions like tariff removal to improve trade relations.
