WASHINGTON/BEIJING - China struck a more aggressive tone in its trade war with the United States on Friday , suggesting a resumption of talks between the world's two largest economies would be meaningless unless Washington changed course.
"But because of certain things the US side has done during the previous China-US trade consultations, we believe if there is meaning for these talks, there must be a show of sincerity,"he told a daily news briefing. The increasingly acrimonious trade dispute has rattled investors who fear that the countries are careening dangerously down a track that will badly damage global supply lines and put the brakes on an already slowing world economy.
Trump punctuated two days of talks in Washington last week with a decision to raise tariffs on US$200 billion in Chinese imports to 25 per cent from 10 per cent. The negotiations ended in a stalemate. The US president also continues to dangle the possibility of imposing tariffs of up to 25 per cent on imported cars and parts, a move that could be devastating for a number of its trading partners, including Japan and Germany.
"We regret that the US has designated car imports as a threat to national security," German Economy Minister Peter Altmaier said in Berlin. Altmaier added, however, that the delay offered hope that a renewed escalation of the US-EU trade conflict could be prevented for now.
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