China’s top trade envoy is preparing to travel to Washington for crucial talks, a Chinese official said Monday despite US President Donald Trump threatening to impose more punishing taxes on $200 billion worth of Chinese products, citing slow progress in negotiations.
The brief statement from Chinese Foreign Ministry Spokesman Geng Shuang came as media reports said Beijing may cancel the high-level trade talks with the US, leading to tumbling of shares prices across the world amid worries that the two major economic giants were once again on the path of confrontation.
Asked whether the top Chinese envoy Vice Premier Liu He would visit Washington as planned, Geng said, “a Chinese team is preparing to travel to the United States for trade talks.”
Reacting to the reports, Geng told journalists, “What I can tell you is that the Chinese team is preparing to travel to the US for the trade talks.”
He parried a spate of questions whether the talks would be resumed on Wednesday and declined say when the trade team would go to Washington.
About Trump’s threat to impose punishing tariffs on $200 billion worth of additional Chinese products, Geng played it down saying that such a situation prevailed earlier.
“As to the US threat on Chinese tariffs, I think such situation appeared many times before. China’s position is always clear cut and the US knows that clearly. Regarding the trade talks between China and the US those consultations have been held for the 10th round and made positive progress.”
President Trump’s surprise remarks came on Sunday as the two countries locked in a longstanding trade war seemed near to striking a trade deal.
A high-level Chinese delegation led by Vice Premier Liu was scheduled to be in Washington to resume talks aimed at resolving the trade war that has cast gloom over the world economy.
“China is considering cancelling trade talks that are to resume in Washington starting Wednesday,” The Wall Street Journal reported Sunday quoting unnamed sources.
“There has been widespread expectations in recent days that an accord could be reached by Friday,” it said.
Quoting an unnamed source, CNBC News said the Chinese Vice Premier will likely cancel the trip he had planned for himself and a 100-person delegation for the final round of talks.
The US officials had previously said that a deal could be reached by Friday.