China said it was prepared to resolve its trade dispute with the United States through & # 39; quiet & # 39; negotiations and is resolute against the escalation of the conflict, Deputy Prime Minister Liu said Monday.
The increasingly bitter trade war between the two largest economies in the world escalated strongly on Friday, with both parties applying more rates to each other's exports.
US President Donald Trump announced an additional levy on approximately $ 550 billion in targeted Chinese goods on Friday, hours after China unveiled retaliation rights to $ 75 billion in US goods.
Deputy Prime Minister Liu He (photo June 13) said on Monday that China is willing to resolve its trade dispute with the United States through & # 39; quiet & # 39; negotiations and opposes the escalation of the conflict
Liu (second from the right) shakes hands with US trade representative Robert Lighthizer (second from the left) on July 31, while US Finance Minister Steven Mnuchin (left) and Chinese Trade Minister Zhong Shan (right) are watching
Liu & # 39; s statement comes one day after President Trump (with Chinese President Xi Jinping) was quoted as saying that he & # 39; second thoughts & # 39; about the escalating trade war
However, Trump appeared on Sunday to return to his threat to command American companies from China.
Liu, who led the talks with Washington, said no one could benefit from a trade war at a technical conference in Chongqing, southwestern China.
"We are willing to solve the problem through consultation and cooperation in a calm attitude and resolutely against the escalation of the trade war," said Liu, President Xi Jinping's chief economic adviser, according to a government transcript.
& # 39; We believe that the escalation of the trade war is not conducive to China, the United States, nor to the interests of the people of the world, & # 39; he added.
US companies are especially welcome in China and will be treated well, Liu said.
& # 39; We welcome companies from all over the world, including the United States, to invest and operate in China, & # 39; he added.
"We will continue to create a good investment environment, protect intellectual property rights, promote the development of smart intelligent industries with our open market, resolutely resist technological blockades and protectionism, and strive to protect the completeness of the supply chain."
It was not clear how Trump could get American companies to leave China.
US Finance Minister Steven Mnuchin said that Trump could command companies from China under the International Emergency Economic Powers Act if he declared a national emergency.
The trade war has eroded global growth, upset allies and increased market fear that the world economy will end up in a recession.
Global stock markets staggered Monday after the final measures, while China's yuan fell to a new low in 11 years. Investors flocked into the safe havens of government bonds and gold.
Chinese state media destroyed the United States on Monday.
The official China Daily said in an editorial that Washington should never control China's destiny.
& # 39; It has undeniably become clear that the tariff war of his government against China is politically motivated. What Washington wants from its biggest trading partner is that it is content to play second fiddle and do what it desires, & # 39; wrote the English-language newspaper in an editorial.
& # 39; Washington has again taken the initiative to escalate the fight in the hope that Beijing will throw in the sponge as soon as possible. But Beijing regards the trade war as an inevitable fire test, from which the country will emerge stronger. & # 39;
The Global Times, a widely read tabloid published by the official People's Daily of the ruling Communist Party, said it was leaving the Chinese market & # 39; suicide & # 39; would be for American companies, especially for car companies.
Donald Trump's admission that he & # 39; second thoughts & # 39; "There is a strong misinterpretation about his trade war in China," says the White House
& # 39; US. companies are welcome to invest and operate on the Chinese market, but if some American companies want to obey Trump's order and join the Washington trade war, the result is bleak. A decision to give up the Chinese market is only suicide &, said the newspaper.
China's willingness to find a way to end the trade war through & # 39; quiet & # 39; negotiations comes after Donald Trump's astonishing recognition that he & # 39; second thoughts & # 39; has about the trade war in China – a statement that is now & # 39; strongly misinterpreted, & quot; said to the White House.
Trump's press secretary said in a statement to reporters on Sunday afternoon that Trump's only regret is that he has not hit China harder with rates.
& # 39; President Trump responded in the affirmative – because he regrets that he did not raise rates & # 39 ;, said Stephanie Grisham.
Trump has raised existing rates of $ 250 billion in Chinese goods to 30 percent on Friday after Beijing imposed fines of $ 75 billion in American products, and he has more in the hopper on computers and other goods that will strike on December 15.
Stephanie Grisham, spokeswoman for the White House, claimed Sunday that Trump's only regret is that he hasn't hit China harder with rates
In the midst of the dispute, the Dow threw 623 points.
The president's economic advisers insisted on a series of Sunday morning programs, and Trump did not want the White House press in Biarritz to attend the G7 summit to reconsider its trade war.
& # 39; I'm not sure if he heard the question completely, & # 39; said Larry Kudlow, director of the National Economic Council, on CNN.
During a breakfast with Boris Johnson, Trump seemed to admit that he wasn't entirely sure that his harsh approach to China was the right course of action.
& # 39; I have a second opinion about everything, & # 39; he told a pool reporter who asked him if he & # 39; second thoughts & # 39; talked about the escalating trade war between them.
He said he could declare a national emergency to force US companies to break ties with China, although he said there was & # 39; no plan & # 39; was drafted and insisted that world leaders had not expressed dissatisfaction with him.
& # 39; I don't have a plan now, & # 39; he said. & # 39; We can get along very well with China. Were talking. I think they want to close a deal more than I do. & # 39;
He said: & # 39; We get a lot of money in rates. It comes in by the billions. We have never received 10 cents from China. So we'll see what happens. But we are talking very seriously with China. & # 39;
The president said he was not worried that Wall Street does not seem to share his opinion.
& # 39; The market is doing well. Our country is doing well. Everyone told me yesterday that people are trying to copy the formula. We have considerably reduced taxes. We are relieved of prescriptions – large numbers – more than any president is redeemed. And we are doing very well. & # 39;
He then claimed that none of his G7 counterparts had opposed his approach to China.
& # 39; I think they respect the trade war, & # 39; he had claimed. & # 39; Nobody told me that and nobody would tell me that. & # 39;
At least one did that. Johnson told him on camera that he had to scale back.
& # 39; But only to record the vague, sheepish note of our view of the trade war, do we support trade peace in general, and reject it if we can, & # 39; Johnson told him.
White House economic adviser Larry Kudlow and US Secretary of Finance Steven Mnuchin talk to US reporters attending the G7 in Biarritz France
Donald Trump says that a & # 39; number of people would like to see Russia again & # 39; in the Group of Seven and it is & # 39; certainly possible & # 39; that Vladimir Putin will be invited next year
Kudlow appeared on CNN from the G7 after the Trump flub and accused & host State Brianna Keiler of the State of the Union of taking the leaders' conversation out of context.
& # 39; I cannot attribute or I cannot explain everything these people say, and I am not sure what you just played is something of that encounter, & # 39; he claimed. & # 39; It seems to me that it came after the meeting, so I wanted to create the right context. & # 39;
Kudlow was in the room when Johnson refuted Trump. And he was there earlier in the conversation when Trump acknowledged that he sometimes thinks about a do-over.
& # 39; He did not hear the question exactly. In fact, what he intended to say is, he always has second thoughts, and he actually had second thoughts about possibly a higher rate response to China. So it was not the intention to remove the rate. He thought of a higher rate response, & Kudlow insisted.
However, he said that Trump is not currently planning to raise interest rates.
Finance Minister Steve Mnuchin held an interview with duels on & # 39; Fox News Sunday & # 39; from the press archive. He said that Trump would have the authority to declare one if he wanted to, to force American companies to relocate their activities from China.
& # 39; He didn't do that. I think he said that he ordered companies to search because he wants to be sure – as far as we are in an extensive trade war – that companies don't have these problems and leave China. And we want them to be places where they are trading partners who respect us and act fairly with us, & said the cabinet secretary.
Trump & # 39; s breakfast misspeak preceded a day of meetings with leaders from G7 countries, including Canadian Prime Minister Justin Trudeau and Japanese Prime Minister Shinzo Abe.
The president did not answer any questions from reporters when he met Trudeau, with whom he argued after Canada organized the summit last year. The leaders kept their comments short and to the point.
Abe challenged him with grain purchases and a North Korean rocket test.
Trump said the rocket fire: & I am not happy about it. But again, he does not violate an agreement. & # 39;
Abe replied that the position of Japan is very clear: that the launch of short-range ballistic missiles by North Korea clearly violates the relevant UN Security Council resolutions.
& # 39; So in that sense, it was exceedingly regrettable that we have seen another round of the short-range launch of North Korea's ballistic missiles in recent days. & # 39;
Although they clearly disagreed with the views, both leaders claimed that they are always on the same page when it comes to North Korean tyrant Kim Jong-un.
The US president repeatedly claimed on Sunday that everyone could get along, and it was the press that was the problem. In his meeting with Abe, he insisted that some G7 leaders even agree with him on the benefits of taking over Russia.
GOOD, DONALD: Trump said Sunday that & # 39; some & # 39; leaders prefer to add Putin. He refused to tell reporters who went to Moscow privately
US President Donald Trump and British Prime Minister Boris Johnson hold a bilateral meeting at the G7 summit in Biarritz, France. US ambassador to France Jamie McCourt sits next to POTUS on his right, and US finance minister Steve Mnuchin sits on his left
Trump also had a private chat during a dinner on Saturday night, revealed the White House on a photo of the men who were only talking on the sidelines of the summit
Donald Trump was disappointed with his reporting on the first day of the summit. He complained Sunday morning in a series of tweets about alleged & # 39; fake news & # 39;
Trump said that a & # 39; number of people would like to see Russia again & # 39; in the Group of Seven and it is & # 39; certainly possible & # 39; that Vladimir Putin will be invited next year.
He claimed in a bilateral meeting with Japanese Prime Minister Shinzo Abe: & I think that work is in progress. We have a number of people who would like to see Russia again.
& # 39; I think it would be beneficial for many things in the world. I think it would be positive. Other people agree with me and that is something we are talking about. & # 39;
Trump added: & # 39; I don't know if we will make a decision in any way, but we had a discussion last night about Russia whether or not to invite them. & # 39;
& # 39; Other people agree, and some people don't necessarily agree, & # 39; he said. & # 39; Maybe we don't do it. Maybe we just leave it as it is. & # 39;
He refused the way leaders agree with him and said to his press group: & # 39; I could, but I don't think it's necessary. & # 39;
Trump said he was surprised by a & # 39; pair & # 39; voices that supported the statement because he didn't think that & # 39; they have a good relationship & # 39; with Moscow.
And he claimed that although there was no vote, it is certainly possible that next year, when the United States host the G7, he could make an invitation to Vladimir Putin.
& # 39; No decision. No decision has yet been taken. We did not vote or something, & # 39; he said about the & # 39; ongoing & # 39; discussions about Russia.
Trump first revealed that G7 leaders have a & # 39; lively discussion & # 39; about Russia during a breakfast with Boris Johnson in the UK.
Asked if they were talking about Putin and if he would be invited to attend next year's meeting to be held in the United States on Sunday morning, Trump said they did.
& # 39; I don't know that. We talked about it, & # 39; he said, adding that it & # 39; certainly possible & # 39; is that Putin could be invited.
Trump then said that there was a & # 39; vivid & # 39; and & # 39; really good & # 39; discussion took place, with Johnson adding: & # 39; It was lively & # 39 ;.
The British Prime Minister did not confront Trump during the meeting, but he said prior to the summit that Russia would not be taken over.
He mentioned the occupation of Ukraine and the poisoning of a former double agent who lived in England.
The only other G7 leader who has publicly supported Trump's position is the Italian Prime Minister, and he is currently a lame duck.
During a meal of scrambled eggs, veal, toast and a trade deal on Sunday morning in Biarritz, Trump said that Johnson was the & # 39; right man for the job & # 39; and a & # 39; fantastic premier & # 39; will be that Brexit and a trade agreement.
& # 39; He needs no advice. He is the right man for the job, & Trump said about his friend. & # 39; I've been saying that for a long time. Did not make your predecessor very happy, but I have said that for a long time. & # 39;
However, differences quickly emerged between the men on this subject because Trump admitted he & # 39; second thoughts & # 39; talked about his attack on China and Johnson advised him to call back carefully.
Johnson said in his reproach that the UK has benefited enormously over the last 200 years from free trade, and that is what we want to see & # 39 ;.
& # 39; We do not like rates as a whole, & # 39; he acknowledged.
Blowing off the statement, Trump took a swipe at former British Prime Minister Theresa May and said, “What about the past three years?
& # 39; Don't talk about the last three. Two hundred, I agree with you, & he said to his friend.
Johnson refused to play cross and let the bus roll straight over his predecessor and former party leader.
& # 39; I am not going to disagree. I'm not going to stop you from doing that, Donald, & he said after Trump had insulted again. & # 39; But of course I have memories of US trade negotiations in the past and I have a formidable respect for US trade negotiations. And I know there will be some heavy conversations. & # 39;
He said that Britain currently cannot sell lamb, pork pie or beef to the United States.
& # 39; And there are clearly huge opportunities for the UK to penetrate the US market in the way that we are not currently doing. And we are very interested to talk to you about that, & he said.
Trump seemed to miss the torches Johnson sent.
& # 39; They won't have the anchor around their ankle & # 39 ;, he said about the UK's plans to leave the EU.
Johnson replied: & # 39; Speaking of the anchor, Donald, what we want is for our ships to transport cargo from New York to Boston, which they cannot currently do. & # 39;
Trump claimed in several tweets on Sunday that the American media made his meetings as less harmonious than they actually were.
& # 39; The question that I was most asked today by fellow world leaders, who think the US is doing so well and is stronger than ever before, happens to be & # 39 ;, Mr. Mr President, why do the American media hate your country so much? Why do they take root for failure? & # 39; he said in an evening report.
He had also complained about the media earlier in the day and said: & # 39; So far, false and inaccurate G-7 reporting. The Fake News knows this, but they can't help it! & # 39;
& # 39; Before I arrived in France, the fake and disgusting news said that relations with the 6 other G-7 countries are very tense and that the two days of meetings will be a disaster, & # 39; he claimed. & # 39; Just as they are trying to force a recession, they are trying to America in bad economic times & # 39; want & # 39 ;, the worse the better, everything that makes my election harder to win. & # 39;
Trump insisted: "Well, we have very good meetings, the leaders get along very well and our country is doing well economically – the conversation of the world!"
He told reporters in the room for his breakfast with Johnson a few minutes later: & You want a recession because you think that might be the way to get Trump out. Maybe that's the way to get it out. & # 39;
In this White House handout photo, President Trump accompanies G7 leaders at the Biarritz lighthouse on Saturday evening. Trump says she has a & # 39; lively discussion & # 39; about Russia
He lashed out on coverage at the time of his spit with French President Emmanuel Macon, with whom he had lunch on Saturday.
Trump had threatened to tax French wine before he left Washington in retaliation for a planned digital tax on companies such as Amazon.
Macron intercepted him at his hotel and invited Trump for an unplanned lunch, where he talked sweetly to the American leader and told him how honored he was to have him in France.
& # 39; France and President @ EmmanuelMacron have done a really great job so far with a very important G-7. Lunch with Emmanuel was the best meeting we have had so far. The evening meeting with world leaders also went very well. Progress is being made! & # 39; the president said about the Saturday night meal.
He also claimed: & # 39; Our great economy is everyone's conversation! & # 39;
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