senior Chinese official said on Tuesday
(25 September 2018)that it is difficult to proceed with trade talks with
the United States while Washington is putting "a knife to China's
neck", a day after both sides heaped fresh tariffs on each other's goods.
the talks can restart would depend on the "will" of the United
States, Vice Commerce Minister Wang Shouwen said at a news conference.
tariffs on USD 200 billion worth of Chinese goods and retaliatory taxes by
Beijing on USD 60 billion worth of US products including liquefied natural gas
(LNG) kicked in on Monday as the trade dispute between the world's two biggest
economies escalated, unnerving global financial markets.
also accused the United States of engaging in "trade bullyism", and
said Washington was intimidating other countries to submit to its will,
according to a white paper on the dispute published by China's State Council,
or cabinet, on Monday.
sharp criticism (from Beijing on Monday) suggests that China might prefer to
wait out the current US administration, rather than embarking on potentially
futile negotiations," Mizuho Bank said in a note to clients.
these developments, it is increasingly likely that both sides will not resume
negotiations for some time, at least until there is a noticeable shift in the
political mood on either side."
rounds of Sino-US talks in recent months have appeared to produce no
breakthroughs and fresh negotiations which had been expected in coming weeks
have been cancelled after Beijing reportedly decided late last week not to send
a delegation to Washington.
cannot say that all previous trade discussions have been useless, but the
United States has abandoned its mutual understanding with China, Wang said.
does not know why the United States has changed its mind after reaching an
agreement with China on trade earlier, Wang said, apparently referring to talks
in May when it appeared briefly that a framework was being sorted out.
exporters including LNG suppliers would "certainly" be hurt, but
Beijing's retaliation would provide opportunities to other LNG-exporting
countries, Wang said, adding that Australia is an important source of the fuel
is a big and powerful nation, so whether it is a confrontation with China
economically or militarily, it would come at a huge price," the
state-backed Global Times wrote in an editorial on Tuesday.
such, it is an attractive prospect for other countries including the United
States to coexist with China peacefully," said the newspaper, which is
published by the ruling Communist Party's People's Daily.