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China to counter latest U.S. tariffs as Trump vows deal on U.S. terms


Added 08-15-19 06:03:02pm EST - “China on Thursday vowed to counter the latest U.S. tariffs on $300 billion of Ch...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “China to counter latest U.S. tariffs as Trump vows deal on U.S. terms”. Below is an excerpt from the article.

BEIJING/WASHINGTON (Reuters) - China on Thursday vowed to counter the latest U.S. tariffs on $300 billion of Chinese goods but called on the United States to meet it halfway on a potential trade deal, as U.S. President Donald Trump said any pact would have to be on America’s terms.

The Chinese finance ministry said in a statement that Washington’s tariffs, set to start next month, violated a consensus reached between Trump and Chinese President Xi Jinping at a June summit in Japan to resolve their disputes via negotiation.

In a separate statement, China’s foreign ministry spokeswoman, Hua Chunying, said, “We hope the U.S. will meet China halfway, and implement the consensus of the two heads of the two countries in Osaka.”

China hopes to find mutually acceptable solutions through dialogue and consultation on the basis of equality and mutual respect, she added.

Trump, who is seeking re-election in 2020 and had made the economy and his tough stance on China a key part of his 2016 campaign for the White House, on Thursday said any agreement must meet U.S. demands.

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