Chinese officials confirmed over the weekend that Beijing has no interest in fighting a “trade war” with the United States; saying both nations have reached a “consensus” after President Trump announced stiff economic sanctions earlier this year.
According to Yahoo News, Chinese Vice Premier Liu He, the leading negotiator in trade talks between Beijing and Washington, told reporters Sunday that his nation “will not fight a trade war” against the United States.
“The two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other,” said He.
“At the same time it must be realized that unfreezing the ice cannot be done in a day, solving the structural problems of the economic and trade relations between the two countries will take time,” he added.
President Trump stunned Chinese officials earlier this year when he announced over $50 billion of tariffs on Chinese-produced goods; sparking speculation Beijing would retaliate by imposing harsh taxes on American products.