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

Credit: Reuters Studio
Published 3 weeks ago - 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

Asian stock markets, with the exception of Australia, are in negative territory on Wednesday following the weak cues overnight from Wall Street amid renewed...
17 hours ago • RTTNews

The United States is in a "quiet period" with China over trade negotiations, White House adviser Peter Navarro said in an interview on CNBC on Friday, adding...
5 days ago • Reuters India

The United States and China are set to relaunch trade talks this week after a two-month hiatus, but a year after their trade war began there is little sign their...
1 week ago • Reuters India

U.S. President Donald Trump on Monday pointed to slowing economic growth in China amid restarted trade talks, saying U.S. tariffs were having "a major effect"...
2 days ago • Reuters India

Recent related videos from verified sources

China-U.S. Trade War About To Get Uglier 01:53
Credit: The Street - Published 5 days ago 

China says existing U.S. tariffs must be removed for a trade deal 01:20
Credit: Reuters Studio - Published 2 weeks ago 

U.S.-China trade talks set to resume next week 02:23
Credit: Reuters - Politics - Published 2 weeks ago 

U.S. won't lift China tariffs amid reopening of talks: Kudlow 00:59
Credit: Reuters Studio - Published 2 weeks ago 

You might like