China hopes for no further trade war escalation

Economy | Politics 9/13/2018, 10:12 AM
China hopes for no further trade war escalation

China's commerce ministry spokesperson Gao Feng called on the United States to comply with last year's World Trade Organization (WTO) ruling on dumping duties and correct the violations. A new round of trade negotiations is being discussed, Feng said, adding that any further escalation in the dispute would hurt both countries and is in nobody's interest. The US trade deficit with China was high due to the high demand in America, he told reporters.

Earlier, the Wall Street Journal reported the US Treasury Secretary Steven Mnuchin invited China to a new round of trade talks with before the administration of President Donald Trump implements additional tariffs on Chinese imports. Meanwhile, China warned that it will respond with countermeasures and set a plan in motion to ask the WTO for permission to impose trade sanctions on the States.

Breaking the News / MD