STOCK MARKET BSE NSE

Top Chinese, US officials to continue trade talks

China warned the US on Friday that it was 'not afraid of a trade war' as it threatened tariffs on $3 billion worth of US goods in retaliation to Trump's new measures.

Published: 24th March 2018 10:42 AM  |   Last Updated: 24th March 2018 10:42 AM   |  A+A-

US Treasury Secretary Steven Mnuchin (Photo | AP)

By AFP

BEIJING: China's top economic official Liu He spoke by phone with US Treasury Secretary Steven Mnuchin on Saturday and "agreed to continue to communicate" on trade issues, the official Xinhua news agency said.

The call came at a time of heightened tensions after US President Donald Trump on Thursday authorised tariffs on as much as $60 billion of Chinese imports, targeting sectors in which Washington says Beijing has stolen American technology.

Liu He, a Harvard-educated Communist Party official who was elevated on Monday to the key role of vice premier, is expected to oversee China's financial and economic sectors. 

On the phone, he accused a US investigation of violating international trade rules and told Mnuchin that Beijing was ready to defend its interests, Xinhua said. 

"China is ready to defend its national interests and hopes that both sides will remain rational and work together to safeguard the overall stability of China-US economic and trade relations," Xinhua cited Liu as saying.

China warned the US on Friday that it was "not afraid of a trade war" as it threatened tariffs on $3 billion worth of US goods in retaliation to Trump's new measures. 

It unveiled a hit list of products from fresh fruit to pork that could face duties of up to 25 percent, though it stopped short of pulling the trigger as it indicated its readiness to negotiate an agreement.

In August, the US formally launched a trade investigation into China's intellectual property practices and the forced transfer of US technology under Section 301 of US trade law, which addresses intellectual property.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp