China, US call truce ahead of summit talks
Print Edition
THE United States and China have agreed to a tentative truce in their trade dispute ahead of a meeting between leaders of the two nations at the G20 summit this weekend, the South China Morning Post reported yesterday, citing sources.
Details of the agreement, which would halt the next round of US tariffs on an additional US$300 billion of Chinese goods, are being laid out in press releases and will be out as coordinated press releases and not a joint statement, the newspaper said.
Chinese President Xi Jinping arrived in Osaka, Japan, yesterday afternoon for a summit of the Group of 20 major economies at the invitation of Japanese Prime Minister Shinzo Abe.
US President Donald Trump is set to hold the much-anticipated trade talks with Xi in Osaka at 11:30am local time tomorrow, a White House spokesman told reporters on Wednesday.
Asked about the truce report, Gao Feng, commerce ministry spokesman, said China would welcome action that helped reduce tension.
“We welcome actions that help manage differences and prevent an escalation in frictions,” he said, without answering directly whether a deal was expected at the summit.
The United States should immediately remove sanctions on Chinese telecoms equipment maker Huawei, Gao said.
China opposes US’ abuse of export controls and urges the United States to return to a track of cooperation, Gao said.
Trump said on Wednesday a trade deal with Xi was possible this weekend when they meet in Japan, but he was prepared to impose tariffs on virtually all Chinese imports if disagreement persisted.
Trump has suggested that Huawei could be part of a deal.
The United States has put Huawei, the world’s largest maker of telecoms equipment and its second-biggest maker of smartphones, on an export blacklist, citing national security issues. The listing bars US suppliers from selling to it without special approval.
Huawei has denied its products pose a security threat.
“We urge the United States to cancel immediately sanctions on Chinese companies, including Huawei, to push for the healthy and stable development in Sino-US ties,” Gao said.
Gao said that Xi told Trump during a phone call last week — a gesture that rekindled hopes of a deal — that he hoped the United States could treat Chinese firms fairly.
The US Commerce Department announced last week it was adding several Chinese companies and a government-owned institute involved in supercomputing with military applications to its national security “Entity List” that bars them from buying US parts and components without government approval.
China would consider putting foreign firms on a list designating them “unreliable” if they adopted discriminatory measures against Chinese entities, hurt its industries and threaten its national security, Gao said.
On May 31, the commerce ministry said it was working on an “unreliable entities list” after the United States imposed additional tariffs on US$200 billion of Chinese goods and added Huawei to the US export blacklist.
Details of the list would be released soon, Gao said.
China’s foreign ministry spokesman Geng Shuang stressed that China would not be scared by US threats of more tariffs.
“The Chinese people are not afraid of pressure and never buy this kind of strategy,” he told reporters.
“I’d like to tell the US side once again that waging trade wars and ramping up tariffs do harm to others while jeopardizing itself, and such moves will in no way solve the problems,” Geng said.
He urged the US to listen to voices of opposition to trade wars and additional tariffs from its within, including various groups and the general public, and the voices of resistance to unilateralism, protectionism and bullying from the international community.
“This goes in line with the interests of the two countries and peoples, and is a widespread expectation of the international community,” Geng said.
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