Online Reporter
The United States has approached China seeking talks over President Donald Trump’s 145 percent tariffs, a social media account affiliated with Chinese state media said yesterday, potentially signalling Beijing’s openness to negotiations.
“The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” Yuyuan Tantian said in a post published on its official Weibo social media account, citing anonymous sources.
Beijing has made little effort to contain its anger at the tariffs, which it says are tantamount to bullying and cannot stop the rise of the world’s second-largest economy. Instead, it has directed its fury at rallying public and global condemnation of the import curbs — showing no interest in a reprieve.
That said, alongside leveraging its propaganda machine to hit back at the duties, China has quietly created a list of US-made products it will exempt from its retaliatory 125 percent tariffs — including select pharmaceuticals, microchips and jet engines. Once Trump’s tariffs topped 35 percent they became prohibitively high for Chinese exporters.
Nomura Securities said that some 16 million Chinese people could lose their jobs once the long-term ripple effects of a 50 percent drop in Chinese exports to the US work their way through the economy.
Still, Beijing has been adamant it will stand and fight, rather than rush to the negotiation table — with the foreign ministry likening yielding to Trump’s tariffs to “drinking poison.” — Reuters.
