SWITZERLAND-US-CHINA-TRADE-TARIFF\u00a9\u00a0Valentin Flauraud\/AFP via Getty Images<\/figcaption><\/figure>\n\n\n\nTrump last month sharply increased tariffs on China, prompting China to retaliate with 125% tariffs on U.S. goods. The tit-for-tat measures set off a trade war with the third-largest U.S. trade partner, which accounted for nearly $440 billion worth of imports last year.<\/p>\n\n\n\n
The tariffs elicited warnings from a slew of companies about the risk of price increases for U.S. shoppers.<\/p>\n\n\n\n
China said that it will release a joint statement with the U.S. on Monday regarding the agreement reached on Sunday.<\/p>\n\n\n\n
\u201cThe two sides agreed on establishing a consultation mechanism for trade and economic issues, identify the lead persons on each side, and will carry on further consultations relating to trade and economic issues of their respective concerns,\u201d the Chinese vice premier said.<\/p>\n\n\n\n
He said that China\u2019s stance has been \u201cclear and consistent,\u201d and that it does not want a trade war.<\/p>\n\n\n\n
\u201cChina doesn’t want to fight a trade war because trade wars produce no winners. But if the U.S. insists on forcing this war upon us, China will not be afraid of it, and we’ll fight to the end,\u201d He said.<\/p>\n\n\n\n
Chinese officials called the meeting \u201cproductive\u201d and said that \u201can important first step [was] taken by the two sides to properly resolve their differences through equal-footed dialogue.\u201d<\/p>\n\n\n\n
When asked by a reporter whether the potential deal would help the White House address the U.S. trade deficit, China deferred to Monday\u2019s joint statement.<\/p>\n\n\n\n
\u201cChina is always pursuing win-win outcomes in its trade and economic negotiations, therefore, any possible deal to be reached will definitely be in the interest- development interest of China\u2019s own [inaud],\u201d trade negotiator Li Chenggang said.<\/p>\n\n\n\n
When asked about the atmosphere of meetings, Chinese trade negotiator Li Chenggang characterized them as having \u201cmutual respect\u201d and \u201csincerity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
In a media briefing after a second day of talks with U.S. negotiators on Sunday, Chinese Vice Premier He Lifeng said trade talks with the U.S. \u201cachieved substantial progress and reached important consensus.\u201d Earlier Sunday, the White House said that it reached a deal without providing any details. While U.S. Trade Representative Jamieson Greer called […]<\/p>\n","protected":false},"author":11,"featured_media":11002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[3306,1702,2117],"class_list":["post-11001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-deal","tag-house","tag-white"],"yoast_head":"\n
White House says it has a deal with China while Chinese call it 'consensus' - LISTEN WORLD<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tingchao.xyz\/?p=11001\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White House says it has a deal with China while Chinese call it 'consensus' - LISTEN WORLD\" \/>\n<meta property=\"og:description\" content=\"In a media briefing after a second day of talks with U.S. negotiators on Sunday, Chinese Vice Premier He Lifeng said trade talks with the U.S. \u201cachieved substantial progress and reached important consensus.\u201d Earlier Sunday, the White House said that it reached a deal without providing any details. 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