“China wants trade talks with the U.S.”
Trade talks between China and the United States should be equal and mutually beneficial.
Chinese Commerce Minister, Wang Shouwen, said on Friday that exchange negotiations between the US and China must evenly benefit both. He would like for both the nations to talk things over to settle their discords.
Next week at the G20 summit in Buenos Aires, President Donald Trump and his Chinese compeer Xi Jinping will have a formal discussion. They will talk about the current trade links between China and the USA.
Wang addressed a news conference in Beijing. He announced that through the joint trust they can anticipate methods to deal with the ongoing dilemmas.
The US wants China to ease entrance to their markets and to increase the intellectual capital for US businesses. China is also required to reduce subsidies to domestic producers, in order to create competition with US-based firms and cut a $375 billion gap. Although a retaliation, imposing tariffs on $250 billion of Chinese imports has been introduced by Trump to increase exports to China.
Trump wants China to fulfill the USA’s exports demand or else all the Chinese products will be taxed, in terms of tariffs. According to reports, Trump said that he thinks China is willing to make an agreement.
Due to a fall in worldwide trade and investment in China, it really wants to prevent protectionism in the US.
A leading Chinese diplomat said that global trade is declining as more countries are adopting protectionist policies. He believes that the G20 summit will lead to a growing support towards free trade.
The US had accused China of “unfair” trade which was repudiated by China.
Therefore, it wants to make a deal so that the US stops their aggravating behavior.