China is ready to start discussions with the United States and work closely to resolve the trade issues due to the fact that the world’s two largest economies might both lose from the confrontation, Vice President Wang Qishan stated, CNBC informed.
U.S. President Donald Trump has threatened to impose further tariffs on $267 billion of Chinese imports into the U.S. if the two countries cannot reach a deal on trade.
“Both China and the U.S. would love to see greater trade and economic cooperation,” Wang told the Bloomberg New Economy Forum in Singapore.
“The Chinese side is ready to have discussions with the U.S. on issues of mutual concern and work for a solution on trade acceptable to both sides,” he said. “The world today faces many major problems that require close cooperation between China and the United States. It is our firm belief that China and the U.S. will both gain from cooperation and lose from confrontation.”
Trump has railed against China for what he sees as intellectual property theft, entry barriers to U.S. business and a gaping trade deficit.
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