China is currently unwilling to make concessions in the trade dispute with the United States. Whether the two countries will come closer together in the future depends, as far as Beijing is concerned, on the next steps the Americans take.
“The US continues to increase trade tensions and perform various tricks, seriously damaging trade negotiations,” said a Chinese Ministry of Commerce spokesperson.
According to him, any re-approchement depends on the “attitude and sincerity of the US”. The Deputy Minister of Foreign Affairs, Zhang Hanhui, previously accused the Americans of “economic terrorism”.
The statements do not do well to the already modest hope for a rapid solution to the trade war between China and the US. Negotiations for a new trade agreement between the two superpowers stalled earlier this month. President Donald Trump then imposed new import duties on Chinese goods, after which Beijing took similar measures against US products.
According to insiders, China has stopped the import of American soybeans. In December, after the ceasefire between Trump and his counterpart, Xi Jinping, Chinese importers were instructed to import batches of American soybeans as a sign of goodwill. Such orders would not have been received.
Earlier this week, China threatened to use its dominant position in the field of rare earth metals against the US. The American technology sector is largely dependent on the Asian country for the supply of these substances.
Trump announced on Thursday that the US is doing well in trade talks with China and that the Chinese are keen to make a deal with Washington. According to him, the American import duties have a “devastating effect” on China because companies leave the country in order to prevent tariffs.