Donald Trump sends team to China to talk trade as Beijing vows to reject 'US bullying'
DONALD Trump has dispatched a delegation to China to work out a solution on the country's divergences and avoid a trade war with Beijing - but China warned via its state media that it will “stand up to US bullying”.
Donald Trump admits that he's ready for China trade war
US diplomats will use a two-day visit to cover a wide range of concerns about China's trade practices, ranging from Beijing’s subsidies for technology development to its intellectual property practices.
US President Trump announced the meeting on Twitter, saying China’s president Xi Jinping and he “will always have a good (great) relationship”.
He added: “Our great financial team is in China trying to negotiate a level playing field on trade!
“I look forward to being with President Xi in the not too distant future.”
The negotiators are likely to seek an agreement on short-term measures on the Chinese market to delay the imposition of tariffs on $50billion worth of Beijing’s exports.
Chinese foreign ministry spokeswoman Hua Chunying set the tone for the talks, reiterating to the press that China welcomed the meetings but they had to be based on equality and mutual respect.
She added: “The outcome should be mutually beneficial and win-win.”
And the official Xinhua news agency said earlier today that Beijing would not passively accept tariffs if this round of talks went poorly and a trade war broke out.
The media reported: “China will inevitably suffer losses, but China has the political advantage of a centralised and unified leadership and support of a massive domestic market."
Echoing Xinhua’s words, English-language newspaper China Daily said in an editorial that China would "stand up to the US' bullying as necessary".
It added: “Washington and Beijing should be clear: neither side can scare the other down.
“Negotiations are the best way to resolve the problem.
"The US wants greater access to China's market, but it should not use trade actions as a battering ram to force China to open its doors.
“It is already in the process of opening them wider.”
US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are leading the talks.
When asked by Reuters if he expects to make progress in the next two days, Mr Mnuchin just said he was “thrilled to be here”.
Mr Trump claimed throughout his 2016 presidential campaign that he would impose a 45 per cent across-the-board tariff on Chinese goods as a way to level the playing field for American workers.
In March this year, the Trump administration announced plans to impose tariffs on up to $60 billion in annual imports from China.
Going through with the plan could spark a trade war between the world’s largest economies and put at risk the stocks market.