China is assessing a US offer to start trade talks that could pave the way for the world’s two largest economies to begin talks to resolve a trade war that has roiled global financial markets.
Chinese authorities have reiterated their stance that demanding the US remove all unilateral tariffs and the failure of an agreement would be a sign of difficulty for Washington.
US President Donald Trump has imposed 145% tariffs on Chinese imports this year, prompting China to impose a 125% retaliatory levy. So far, both sides have sought to blunt the economic impact of the tariffs by granting exemptions to certain critical products.
The Chinese yuan strengthened 0.14% to 7.2665 against the US dollar after the statement was reported.
The latest comments from Beijing follow conflicting statements from the Trump administration about ongoing talks, with both sides keen to avoid being seen as giving in.
While Beijing appears to be indicating its willingness to engage in talks with the Trump administration, analysts warn that reaching a comprehensive agreement will be a complex and time-consuming endeavor.
