Trump government officials have proposed a new round of trade talks with China in an effort to address existing issues and concerns, the Wall Street Journal reported on Wednesday.
US Treasury Secretary Steven Mnuchin and other senior government officials have invited the Chinese to a new round of trade talks to address concerns before the United States considers imposing more tariffs on Chinese products, the Wall Street Journal quoted as people informed about it as saying.
The meeting could take place in Washington or Beijing in the coming weeks, according to the report.
However, the Wall Street Journal has a history of quoting Trump administration officials foisted upon Trump through on ongoing compromise/struggle with what critics call the ‘deep-state’, as being the actual aims of President Trump.
Trump said on Friday the United States was ready to impose additional tariffs on Chinese products worth $267 billion. China vowed to retaliate if the United States took further steps to impose tariffs.
Tensions between the United States and China rose in March after US President Donald Trump announced that the United States would impose import tariffs on steel and aluminum. Since then, Washington and Beijing have traded several rounds of tit-for-tat tariffs, with bilateral trade consultations failing to deliver results.
In early August, US Trade Representative Robert Lighthizer said President Donald Trump had asked him to consider raising US $200 billion in Chinese products from 10 percent to 25 percent.
At present, Washington has already applied punitive tariffs against Chinese items totaling $50 billion. The White House already has a ready list with other Chinese items totaling $200 million that could be sanctioned. The president says that this package can take action “very soon”.
Trump, speaking to the media in Fargo, North Dakota, said, “In addition, there are $ 267 billion ready to be executed in the short term.”
This would be enough to impose an extra charge on virtually all goods imported from the world’s second largest economy.
Although the US is acting aggressively through economic means towards China, it is unlikely that it will hinder or stop China’s march to becoming the world’s most powerful economy.