Beijing claimed Thursday that the U.S.-proposed tariffs set to go into effect on Sept. 1 violated earlier agreements made by the two countries during their trade talks and vowed to take countermeasures should the U.S. follow through. The threat roiled stock markets on Wednesday.
On the same day, China’s foreign ministry spokesman Hua Chunying called on the U.S. to “meet China halfway” in their next trade talks, according to a CNBC translation. The talks are set to begin at the end of the month. “On the basis of equality and mutual respect, we will find mutually acceptable solutions through dialogue and consultation,” he said.
The threat follows earlier claims by Chinese officials that the U.S. was involved in fomenting unrest in Hong Kong. In a tweet Wednesday, President Trump said, “I have ZERO doubt that if President Xi wants to quickly and humanely solve the Hong Kong problem, he can do it. Personal meeting?”
I know President Xi of China very well. He is a great leader who very much has the respect of his people. He is also a good man in a “tough business.” I have ZERO doubt that if President Xi wants to quickly and humanely solve the Hong Kong problem, he can do it. Personal meeting?
— Donald J. Trump (@realDonaldTrump) August 14, 2019
The U.S. is set to place 10% tariffs on $300 billion in Chinese goods starting in September if a deal is not reached with Beijing before then. On Tuesday, the administration delayed tariffs on some of those goods until Dec. 15.
Trump, who had previously said the delay was to help U.S. consumers during Christmas shopping, said Wednesday the delay was also to prevent Chinese retaliation. “The American consumer is fine with or without the September date, but much good will come from the short deferral to December. It actually helps China more than us, but will be reciprocated.”
