Following statements made earlier by China’s Vice Commerce Minister, Chen Jian via the Ministry of Commerce, with headline coverage by Reuters.
Key highlights (via Reuters)
China’s vice commerce ministry is hitting wires today with statements regarding the state of things between the US and China, claiming that trade talks can restart completely, but only if the US wills for it, and that trade talks will be difficult to pursue as long as the US is putting a “gun to China’s head”, and while the commerce minister stopped short of calling previously-held trade talks ‘useless’, Chen Jian has noted that the US has abandoned ‘mutual understanding’.
As the threat of all-out global trade war continues to rise, Jian stated that the US’ trade tariffs are disrupting the global supply chain, which threatens to risk further fragmentation and disorder for broader markets, while drawing attention to the need to treat foreign firms’ decisions to move operations across borders with rationality and not exaggeration.
China’s Commerce Ministry remains confident that the majority of large firms will opt to remain in China, and reiterated that it is unsure why the US suddenly changed its mind after initially reaching agreement with China on trade matters, while stopping the trade war is the only viable solution to the current trade situation.
Jian wrapped up by noting that trade talks with the US can only find a solution if both sides are working on equal footing, and are willing to show sincerity.
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