China confirms US invitation to hold trade talks

TOKYO, China confirmed on Thursday that it has received an invitation from the United States of America to hold trade negotiations, state-run Xinhua News Agency reported, amid concern over confrontation between the world’s two largest economies.

The confirmation was made by Commerce Ministry Spokesman Gao Feng at a press conference in Beijing, saying that China welcomes the attitude and the two countries are in discussion about the details. “Recently, the negotiation teams of the two sides have maintained contact in various forms and had exchanges on each other’s concerns,” Gao said, stressing that China believes an escalation of the trade conflict goes against everyone’s interests.

Responding to possible US additional levies on all Chinese imports, Gao said the US. unilateral tariff hikes will ultimately harm the interests of the people of China, the US, and the whole world.

“The US has ignored opposition from the vast number of industry representatives and consumers and continued to release news that may lead to an escalation of trade frictions,” Gao said. “This practice of blackmail and pressure does not work on China and will not help solve the problem.” Washington has imposed duties on a total of USD 50 billion in Chinese products, and Beijing retaliated with tariffs on an equal value of American goods.

Source: Kuwait News Agency