Beijing:
China on Wednesday told Washington that US President Donald Trump said that he was up to Beijing to come to the conversation table to discuss his trade war.
Trump slapped a new tariff on friend and enemy, but has reserved its heaviest blasts for China, with 145 percent on several Chinese imports, even Beijing retaliated with Levy on American goods of 125 percent.
Foreign Ministry spokesman Lynn Gian said, “If America really wants to solve the issue through dialogue and conversation, it should stop excessive pressure, stop threatening and blackmail, and talk to China on the basis of equality, respect and mutual gains.”
“China’s situation has been very clear. There is no winner in the tariff war or business war,” Lynn said. “China doesn’t want to fight, but it is not afraid of fighting.”
This year, Trump has imposed an additional 145 percent tariffs on several goods from China, which fulfills duties from previous administration.
Trump initially imposed 20 percent tariffs on imports from China about his alleged role in the Phentineel supply chain, then 125 percent added to business practices that Washington considers inappropriate.
However, his administration has given a temporary recurrence for some technical products – such as smartphones and laptops – from the latest levy.
The White House stated that on Tuesday it depended on Beijing to take the first step towards ending the dispute, which was warned by economists that global could lead to recession.
“The ball is in China’s court. China needs to make a deal with us. We do not need to make a deal with him.”
China growth
China said on Wednesday that its economy increased by 5.4 percent in the first quarter, as exporters raced to take out the goods out of the factory gate ahead of the US Levi.
Moody’s Analytics Heron Lim told AFP, “The growth in April is being felt in the second quarter figures as tariffs are looking at other suppliers who are looking at other suppliers, disrupting sugar exports and slamming the brakes on investment.”
The Japanese messenger, meanwhile for talks for Wednesday in Washington, said that it was optimistic for the “win-win” result for both countries.
Ryosi Akajawa, who was due to meeting American Treasury Secretary Scott Besant, said he would “protect our national interest”.
On Wednesday, Honda stated that it would transfer the production of its hybrid civic models from Japan to the United States, although it represents a very small portion of its global production.
A spokesman for the Japanese firm said the argument behind the decision is “not a single issue”. “The decision is based on the company’s policy because its foundation is that we produce cars where there is a demand.”
South Korea, a major exporter of semiconductor and cars, said that Finance Minister Choi Song-Mok would meet Besant next week.
Choi said on Tuesday, “Current priority talks are to be used … not only in the US, but also in global markets to reduce uncertainty for Korean companies working in global markets and to delay in implementing mutual tariffs.”
Since the beginning of the year, Trump has implemented standing duties on imports from China, with 10 percent “baseline” tariffs on several American business partners.
His administration recently exempt from these tariffs, leaving some technical products such as smartphones and laptops with global 10 percent tariffs and the latest 125 percent levy on China.
Nvidia said Nvidia said Nvidia said that it is expected that a new US licensing requirement on the primary chip is expected to hit a hit of $ 5.5 billion, which could legally sell in China.
Trump ordered an inquiry on Tuesday, resulting in tariffs on related products such as important minerals, rare-earth metals and smartphones.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)