China has expressed its willingness for trade talks with Washington, a day after the U.S. President Donald Trump indicated the possibility of a significant reduction in tariffs on Beijing.
“China pointed out early on that there are no winners in tariff wars and trade wars,” said Chinese Foreign Ministry spokesman Guo Jiakun during a daily news conference in Beijing on Wednesday.
Since his return to the White House in January, Trump has imposed additional tariffs of 145% on many Chinese products, prompting Beijing to retaliate with counter-tariffs of 125% on U.S. goods.
On Tuesday, Trump acknowledged that the 145% tariff was “very high” and confirmed that it would “come down substantially.”
In a further attempt to ease global market concerns sparked by his aggressive trade policies, Trump also stated that he had no intention of removing U.S. Federal Reserve Chair Jerome Powell.
