Market sentiments stablized after US President Donald Trump toned down his rhetoric on trade war with China. He reiterated that “China called last night our top trade people and said ‘Let’s get back to the table'”. Hence, we’ll be getting back to the table, and I think they want to do something. Trump also said: “They want calm, and that’s a great thing, frankly. And one of the reasons that he’s a great leader, President Xi, and one of the reasons that China’s a great country is they understand how life works.”

However, Chinese tabloid Global Times Hu Xijin denied there was phone call between the two sides. He tweeed that “Based on what I know, Chinese and U.S. top negotiators didn’t hold phone talks in recent days. The two sides have been keeping contact at technical level, it doesn’t have significance that President Trump suggested. China didn’t change its position. China won’t cave to US pressure”.

US President Donald Trump said on the sidelines of G7 in France, “China called last night our top trade people and said, ‘let’s get back to the table’, so we’ll be getting back to the table, and I think they want to do something”. He added, “they’ve been hurt very badly but they understand this is the right thing to do.”

Trump also noted “they have supply chains that are unbelievably intricate and people are all leaving and they are going to other countries, including the United States by the way, we are going to get a lot of them too”

However, China’s Foreign Ministry said they’re not aware of the weekend phone calls Trump mentioned. But the spokesman said China hopes the United States can come back to the path of rationality, adding that “decoupling” won’t resolve current problems.

Chinese Vice Premier Liu He tried to tone down recent abrupt escalation of trade tensions with the US. He said “we are willing to resolve the issue through consultations and cooperation in a calm attitude and resolutely oppose the escalation of the trade war.” He added that such escalation is “not beneficial for China, the United States, nor to the interests of the people of the world”.

Liu also emphasized that China “welcome enterprises from all over the world, including the United States, to invest and operate in China”. “We will continue to create a good investment environment, protect intellectual property rights, promote the development of smart intelligent industries with our market open, resolutely oppose technological blockades and protectionism, and strive to protect the completeness of the supply chain,” he added.

However, state media is singing another tune. The official China Daily warned that US President Donald Trump’s tariff war was unquestionably “politically motivated”. And, “what Washington wants from its largest trade partner is for it to be content to play second fiddle and meekly do as it demands”. It added “Beijing regards the trade war as an unavoidable trial by fire, from which the country will emerge stronger.”

In a second series of furious tweet yesterday, US President Donald Trump announced to raise tariffs on China, in response the latter’s retaliation announced earlier in the day. Starting on October 1, tariffs on USD 250B in China imports will be raised from current 25% to 30%. The rate of the planned tariffs, to take effect on September 1, on USD 300B of Chinese products, will be raised from 10% to 15%.

By loading the tweet, you agree to Twitter’s privacy policy.
Learn more

Load tweet

Always unblock Twitter Tweets

By loading the tweet, you agree to Twitter’s privacy policy.
Learn more

Load tweet

Always unblock Twitter Tweets