Amid Trump's trade war, China on Friday asserted that it is 'currently assessing' US proposals to begin trade talks, marking a subtle tone shift that could open the door for negotiations, CNN reported.
In a statement, the Chinese Commerce Ministry said, "China is making assessments as the United States has recently reached out to convey messages to China through relevant parties many times, expressing hope to engage in talks with Beijing over tariff issues."
In April, the United States imposed tariffs of up to 145 per cent on many Chinese products. While Beijing has responded with tit-for-tat measures, imposing fresh duties of 125 per cent on imports from the United States.
"The tariff and trade wars were unilaterally initiated by the United States. If the US wants to negotiate, it must demonstrate sincerity, make preparations and take concrete actions on issues such as correcting its erroneous practices and lifting the unilateral tariffs," the statement by its spokesperson said.
The Bigger Picture
Earlier, China had denied any talks with the US on tariffs, while Trump has said talks are ongoing and that Chinese President Xi Jinping has spoken to him.
As per the reports, the Chinese Foreign Ministry denied any such talks between the two presidents.
Both the US and China have been steadily raising tariffs on each other's goods since the US raised tariffs on dozens of countries. China now faces a 245 per cent tax on goods exported to the US, while other countries have been given a 90-day reprieve on most duties.
Read More | China-US Trade War: Pulling Back From the Brink?
On April 16, China appointed a new top international negotiator after Trump said the ball is in Beijing's court to work out a deal to end the tariff deadlock.
The White House on April 16 said more than 75 countries have already reached out to discuss new trade deals. As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated.
China is the only country to have retaliated with tit-for-tat levies.
For China, the US is the third-largest export market. Despite China's brave stance, there is considerable concern about the impact of Trump's tariffs on China's economy, which is in a slowdown due to falling exports, low domestic consumption and a collapse in the housing market.
