President Donald Trump predicted on Sunday that China would take down its trade barriers, expressing optimism despite escalating trade tensions between the world’s two largest economies that have roiled global markets in the past week.
The two countries have threatened each other with tens of billions worth of tariffs in recent days and Chinese officials have said this is not the time for negotiations.
But Trump administration officials have stressed that the tariffs are not yet in place and the dispute could be resolved through talks.
In a Twitter post on Sunday, Mr Trump echoed this, saying "China will take down its trade barriers because it is the right thing to do. Taxes will become reciprocal and a deal will be made on intellectual property."
President Xi and I will always be friends, no matter what happens with our dispute on trade. China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries!
— Donald J. Trump (@realDonaldTrump) April 8, 2018
On Tuesday, Washington unveiled some $50 billion worth of proposed tariffs on Chinese imports and on Thursday Mr Trump upped the ante, directing American trade officials to identify tariffs on another $100 billion of Chinese imports. He said this was "in light of China’s unfair retaliation" against the earlier US trade action.
China responded to that by saying it was fully prepared to respond with a "fierce counter strike" if the United States followed through on the new threat.
China’s Commerce Ministry spokesman, Gao Feng, said on Friday that Trump’s threat of another package of tariffs was "extremely mistaken" and unjustified, adding no negotiations were likely in the current circumstances.
Politically sensitive sectors targeted by Chinese tariffs
China’s state media has rallied against the United States, saying its trade protectionism actions will end in defeat and that the only option now is to hit the United States hard enough so it will "remember the pain".
On Sunday, state newspaper the People’s Daily sought to tap into concern in some US business circles over the impact of Washington’s planned tariffs.
"We call on the international business community including the United States industrial and commercial circles to take prompt and effective measures and urge the US government to correct its errors," it said.
The United States, charging China with unfair trade practices and theft of intellectual property, proposed some $50 billion in tariffs on Tuesday – 25 percent tariffs on more than 1,300 Chinese industrial and other products from flat-panel televisions to electronic components.
US trade balance and aggregate sales balance with China
China shot back within hours with its own list of proposed duties on $50 billion of American imports, including soybeans, aircraft, cars, beef and chemicals.
Click Here: Cheap Chiefs Rugby Jersey 2019