China says it's evaluating US overtures for trade talks, but tariffs
remain an obstacle
[May 02, 2025] By
ELAINE KURTENBACH
China’s Commerce Ministry said Friday that Beijing is evaluating
multiple approaches by the Trump administration for trade talks, but
steep tariffs imposed by Washington must go.
A ministry statement reiterated China's stance that is open to talks,
but also that Beijing is determined to fight if it must. It said
one-sided tariffs of up to 145% remain an obstacle, undermining trust.
“The tariff and trade wars were unilaterally initiated by the U.S., if
the U.S. side wants to talk, it should show its sincerity, and be ready
to take action on issues such as correcting wrong practices and
canceling the unilateral imposition of tariffs,” it said.
An unnamed ministry spokesperson was cited as saying that Beijing had
taken note of various statements by senior U.S. officials indicating a
willingness to negotiate over tariffs.
“At the same time, the U.S. has recently taken the initiative to convey
information to the Chinese side on a number of occasions through
relevant parties, hoping to talk with the Chinese side. In this regard,
the Chinese side is making an assessment,” it said.
But it emphasized that China would regard overtures without a change in
President Donald Trump's sharp tariff hikes as insincere.
“Saying one thing but doing another, or even attempting to engage in
coercion and blackmail under the guise of talks, will not work on the
Chinese side,” it said.
China is in the midst of a public holiday, with government offices and
markets closed. But share prices in Hong Kong jumped 1.7% early Friday,
while Taiwan's benchmark index was up 2.2%. U.S. futures also advanced.
As of Friday, the Trump administration is ending a duty-free exemption
on low-value imports from China. That will mean higher prices and
delivery delays when the government starts collecting tariffs on every
single shipment.
Beijing has responded to Trump's tariff hikes by raising its own duties
on imports of U.S. products to as high as 125%. It has also tightened
restrictions on exports to the U.S. of certain strategically important
minerals and stopped importing a wide range of U.S. farm products.
[to top of second column] |
Workers attend customers at a store offering promotion on credit
card outside a bank, in Beijing, Monday, April 28, 2025. (AP
Photo/Andy Wong)
At the same time, China has sought to join with other countries to build
a united front against Trump, while ramping up its own countermeasures
to the impact of Trump’s tariffs.
Trump has slapped a global 10% import tax, or tariff, to try to compel
manufacturers to shift factories back to the U.S. He ordered
double-digit “reciprocal” tariffs for many countries but then postponed
their implementation for 90 days to allow time for negotiations. He has
also hit foreign steel, aluminum and autos.
The toughest measures were reserved for China, the world's biggest
exporter and second largest economy.
His announcements of higher tariffs, suspensions, and then more tariffs
have left companies, investors and consumers stymied over what comes
next, hitting consumer confidence.
Treasury Secretary Scott Bessent, who is leading the administration's
approach to China, has said he expects Beijing to call because the
tariffs are not sustainable.
In an interview Thursday with Fox Business, Bessent said the main issue
with Beijing was not high tariffs but other barriers.
“There's a whole range of bad behavior by the Chinese,” Bessent said,
mentioning theft of intellectual property like trademarks and
cyberhacking."
“So, everything is on the table for the economic relationship,” he said,
adding ”I am confident that the Chinese will want to reach a deal."
Beijing has shown scant willingness to compromise, however, with its
foreign ministry posting a strident video on social media this week
saying the U.S. has “stirred up a global tariff storm.”
It vowed China would not “kneel down” in the trade war.
“Kneeling only invites more bullying,” it said.
All contents © copyright 2025 Associated Press. All rights reserved |
