Beijing appeals to US to ‘meet China halfway’ on trade

Beijing appealed to Washington on Wednesday to “meet China halfway” and end a tariff war after President Donald Trump said Americans might need to endure economic pain to achieve longer-term benefits.

A foreign ministry spokesman, Geng Shuang, expressed hope Washington can “get along with us” and restore “mutually beneficial” trade.

The United States is pressing China to narrow its trade surplus and roll back plans for government-led development of global competitors in robotics and other technologies. Beijing’s trading partners say those plans violate its market-opening commitments. Some American officials worry they might erode U.S. industrial leadership.

Negotiations are deadlocked over how to enforce a deal. Beijing says punitive tariffs imposed by Trump on Chinese products must be lifted as soon as an agreement takes effect. Washington wants to keep some to ensure Beijing carries out any promises it makes.

Talks last month in Shanghai ended with no sign of progress. More talks are scheduled in Washington next month.

“We hope the United States will meet China halfway,” said Geng. He expressed hope they can “work out a resolution that is acceptable to both sides on the basis of mutual respect and equal treatment.”

China has offered to narrow its trade surplus by purchasing more soybeans and other U.S. exports but is resisting pressure to discard its industry development plans.

On Tuesday, Trump responded to complaints about the impact on the United States by telling reporters “somebody had to take China on.”

Trump said the question of whether the United States might be pushed into a recession was irrelevant.

“Whether it’s good or bad short term is irrelevant,” he said. “We have to solve the problem with China.”

Trump said the United States is “very far from a recession” but that he is considering tax changes to spur economic growth.

The United States has imposed 25% tariffs on $250 billion of Chinese products. Beijing retaliated with its own penalties on $110 billion of goods from the United States.

Trump rattled financial markets this month when he announced plans to put a 10% tax on an additional $300 billion worth of Chinese products. That reaction suggested a recession might be on the horizon and led Trump to delay some tariffs slated to begin in September.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Stolen catalytic converters recovered

Innisfail RCMP arrest two suspects

Canadians released from coronavirus-ridden cruise ship in Japan fly home

OTTAWA — A sixth presumptive case of COVID-19 has been diagnosed in… Continue reading

Visually impaired hockey players to compete in Red Deer

Teams prepare for national tournament

Higher oilsands volumes drive beat as Inter Pipeline reports $100M Q4 income

CALGARY — Inter Pipeline Ltd. is crediting strong results from its oilsands… Continue reading

Royal Bank reports $3.5B first-quarter profit, raises quarterly dividend

TORONTO — Royal Bank of Canada raised its dividend as it reported… Continue reading

Fashion Fridays: The 8 best quality online stores! Shop the ultimate sales

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Your community calendar

Feb. 19 A Liberation of Holland event is being held at the… Continue reading

Gary Harris’s generosity helped shape our college, and our city, writes Joel Ward

I was deeply saddened to learn of Gary Harris’s passing. I first… Continue reading

A teen’s perspective: Ordinary Canadians are paying a price for railway blockades

The following is a letter by Alberta teenager Liam Smith to his… Continue reading

2010 leader John Furlong urges Vancouver to bid for 2030 Winter Games

While Vancouver celebrates the 10th anniversary of the 2010 Winter Olympic and… Continue reading

American women seek more than $66M in damages from US Soccer

Players on the U.S. women’s national team are seeking more than $66… Continue reading

ACTRA honouree Jean Yoon reflects on her fight for onscreen diversity

TORONTO — Jean Yoon is flush with honours these days. In September,… Continue reading

The Weeknd sets cross-continent tour with 57 dates, including several in Canada

TORONTO — Canadian R&B singer the Weeknd is going big for his… Continue reading

Einarson, Homan, Jones frontrunning at Tournament of Hearts

MOOSE JAW, Sask. — Manitoba, Ontario and the Jennifer Jones wild-card team… Continue reading

Most Read