Trade gestures a hopeful sign for new China-U.S. trade talks

Note: The following article is taken from the Chinese-language "Commentaries on International Affairs."

China on Friday showed its support for enterprises purchasing soybeans, pork and other agricultural products from the United States, signaling that such deals will be exempt from additional tariffs imposed on U.S. goods.

This is yet another gesture of goodwill from the Chinese side, further demonstrating its sincerity in resolving the trade issues between the two sides.

[Photo: IC]

Within the space of two days, China and the United States have taken a series of positive steps in preparation for a new round of trade talks scheduled for early October in Washington D.C. To begin with, China announced an initial list of U.S. products that will be exempt from the first round of additional tariffs. The U.S. then followed up by delaying additional tariffs on Chinese goods which were due to be implemented on October 1. China then announced that it would exclude purchases of certain agricultural products such as soybeans and pork from its additional tariffs on U.S. goods. This positive interaction shows that the two sides are trying to meet each other half way and making efforts to address each other's core concerns so as to create favorable conditions for new talks.

China and the United States are the two largest economies and so inevitably any economic and trade issues between the two sides will be complicated. To resolve them, sincerity, goodwill and practical action are needed. China resolutely opposes any escalation in the current trade war. It hopes that under the guidance of the consensus reached between the two heads of state at their meetings in Argentina and Japan, the two sides will adhere to the principles of equality and mutual respect, remain calm and rational, seek common ground while respecting each other’s differences, take further action to show goodwill so as to move forward the trade talks, and eventually reach mutually beneficial, win-win economic and trade agreements. This is in line with the interests of both China and the United States, and the expectations of the international community.