China says both U.S., China should make compromises in trade talks

Credit: Reuters Studio
Published on June 24, 2019 - Duration: 01:02s

China says both U.S., China should make compromises in trade talks

Both China and the United States should make compromises in trade talks, Chinese Vice Commerce Minister Wang Shouwen said on Monday, ahead of a much anticipated meeting between the Chinese and U.S. presidents at this week's G20 summit in Japan.

Ciara Lee reports

China says both U.S., China should make compromises in trade talks

It's G20 summit week but for markets at least, it might as well be another round of trade talks Investors on Monday looked for direction from the G20 nations gathering in Japan The meeting will bring U.S. and Chinese leaders together, after a long lull in talks.

China has said talks between the two countries' trade teams were already underway but gave no details.

(SOUNDBITE) (Mandarin) CHINESE VICE COMMERCE MINISTER WANG SHOUWEN, SAYING: "Mutual respect means each side must respect the other's sovereignty.

Equality and mutual benefit means the consultations have to happen on an equal basis, the agreement to be reached has to be beneficial for both sides.

Meeting each other half way means both sides have to compromise and make concessions, not just one side." The two countries are in the middle of a costly trade dispute and have slapped increasingly severe tariffs on each other's imports.

China has vowed to not give in on issues of principle nor under U.S. pressure.

Donald Trump has threatened to put tariffs on another $325 billion of goods covering nearly all the remaining Chinese imports into the U.S That would include consumer products such as mobiles, computers and clothing.

You are here

Recent related news from verified sources

A global index of stock markets dipped on Monday as a report that China wants more talks before signing a "Phase One" trade deal with the United States tempered...
2 days ago • Reuters India

Gold prices firmed on Wednesday as tensions between the United States and China ratcheted up ahead of crucial trade talks later this week, sapping risk appetite,...
1 week ago • Reuters India

Recent related videos from verified sources

How Investors Should Approach The Trade Talks 01:41
Credit: The Street - Published 2 days ago 

What Investors Need to Watch From Trade Talks, Boeing, and Bank Earnings 06:06
Credit: The Street - Published 2 days ago 

You might like