China blinks in trade war with Trump?
China signaled on Monday it was now seeking a "calm" end to its ongoing trade war with the U.S., as Asian markets crumbled and China's currency plummeted to an 11-year low following the latest tariffs on $550 billion in Chinese goods announced last Friday by the Trump administration.While their previous ploys did not work with Trump as well as they might have with Democrats, to resolve this matter China is going to have to agree to stop its unfair trade practices. Those trade practices are now beginning o hurt China and it is going to have to deal fairly with US companies to resolve this matter.
Trump said Monday that officials from China called U.S. officials and expressed interest to "get back to the table,” The Wall Street Journal reported. He called the discussions a “very positive development.”
“They want to make a deal. That’s a great thing,” he said.
News of the possible opening in negotiations came shortly after President Trump threatened to declare a national emergency that would result in American businesses freezing their relationships with China. Trump's tariff barrage on Friday was a response to China imposing its own retaliatory tariffs on $75 billion in U.S. goods.
At the Group of Seven summit in France on Sunday, White House officials rejected suggestions the president was wavering and insisted that his only regret was not implementing even more tariffs on China. Trump wrote on Twitter that world leaders at the G-7 were "laughing" at all the inaccurate media coverage of the gathering.
In response, Chinese Vice Premier Liu He told a state-controlled newspaper on Monday that "China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict," Reuters first reported, citing a transcript of his remarks provided by the Chinese government. Liu is China's top trade negotiator.