As President Donald Trump expressed optimism about a new trade deal, China said on Wednesday that "equality" and "respect" are vital to the negotiation process between the two countries.
There will be "no winners" in the intensifying trade war between Beijing and Washington, Chinese Foreign Ministry spokesperson Guo Jiakun said, adding that China will not give in to Trump's demands.
"This tariff war is launched by the U.S.," Guo said at a press conference. "We have made it very clear that China does not look for a war, but neither are we afraid of it. We will fight, if fight we must. Our doors are open, if the U.S. wants to talk."
"If a negotiated solution is truly what the U.S. wants, it should stop threatening and blackmailing China and seek dialogue based on equality, respect and mutual benefit," he continued. "To keep asking for a deal, while exerting extreme pressure, is not the right way to deal with China and simply will not work."
Trump, who has complained that the U.S. is treated "very unfairly" by its international trading partners, has raised tariffs on Chinese imported goods to 145%, while Beijing has retaliated by slapping 125% tariffs on American products entering China. Electronic devices have reportedly been exempted from the president's tariffs.
Following discussions with Chinese President Xi Jinping, Trump said on Tuesday that the steep tariffs will "come down substantially."
"We're going to be very nice, they're going to be very nice, and we'll see what happens," Trump said, according to The Hill. "But ultimately, they have to make a deal, because otherwise they're not going to be able to deal in the United States."
On Wednesday, Treasury Secretary Scott Bessent said that the U.S. has an opportunity to strike a "big deal" with China, which could spur an increase in domestic manufacturing and reduce American consumption of imports.
"The U.S. is looking to rebalance to more manufacturing," Bessent said, according to The Hill. "The identity of that would be less consumption. If China is serious on less dependence on export-led manufacturing growth and a rebalancing toward a domestic economy … if they want to rebalance, let's do it together."
Speaking to reporters on Wednesday, Trump reiterated his desire to reach a free and fair deal with Beijing.
"We are going to have a fair deal with China," Trump said. "It's going to be fair."
The president said the trade talks are "actively" ongoing, adding that "everything's active; everybody wants to be a part of what we're doing."
"Tariff negotiations are going very well," Trump said outside the White House. "They all want to be involved with America. We have a lot of action going on."
Nicole Weatherholtz ✉
Nicole Weatherholtz, a Newsmax general assignment reporter covers news, politics, and culture. She is a National Newspaper Association award-winning journalist.
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