China says it’s evaluating US overtures for trade talks, but tariffs remain an obstacle

By ELAINE KURTENBACH Associated Press Business Writer China s Commerce Ministry explained Friday that Beijing is evaluating multiple approaches by the Trump administration for bargain talks but steep tariffs imposed by Washington must go A ministry comment reiterated China s stance that is open to talks but also that Beijing is determined to fight if it must It declared one-sided tariffs of up to remain an obstacle undermining trust The tariff and exchange wars were unilaterally initiated by the U S if the U S side wants to talk it should show its sincerity and be ready to take action on issues such as correcting wrong practices and canceling the unilateral imposition of tariffs it explained FILE A made in China sticker is displayed on a hat at a store in Chinatown in San Francisco April AP Photo Jeff Chiu File An unnamed ministry spokesperson was cited as saying that Beijing had taken note of various statements by senior U S bureaucrats indicating a willingness to negotiate over tariffs At the same time the U S has not long ago taken the initiative to convey information to the Chinese side on a number of occasions through relevant parties hoping to talk with the Chinese side In this regard the Chinese side is making an assessment it noted But it emphasized that China would regard overtures without a change in President Donald Trump s sharp tariff hikes as insincere Saying one thing but doing another or even attempting to engage in coercion and blackmail under the guise of talks will not work on the Chinese side it explained China is in the midst of a community holiday with administration offices and markets closed But share prices in Hong Kong jumped early Friday while Taiwan s benchmark index was up U S futures also advanced FILE President Donald Trump left poses for a photo with Chinese President Xi Jinping during a meeting on the sidelines of the G- summit in Osaka Japan June AP Photo Susan Walsh File As of Friday the Trump administration is ending a duty-free exemption on low-value imports from China That will mean higher prices and delivery delays when the administration starts collecting tariffs on every single shipment Beijing has responded to Trump s tariff hikes by raising its own duties on imports of U S products to as high as It has also tightened restrictions on exports to the U S of certain strategically key minerals and stopped importing a wide range of U S farm products At the same time China has sought to join with other countries to build a united front against Trump while ramping up its own countermeasures to the impact of Trump s tariffs Trump has slapped a global import tax or tariff to try to compel manufacturers to shift factories back to the U S He ordered double-digit reciprocal tariffs for a large number of countries but then postponed their implementation for days to allow time for negotiations He has also hit foreign steel aluminum and autos The toughest measures were reserved for China the world s biggest exporter and second largest business sector His announcements of higher tariffs suspensions and then more tariffs have left companies investors and consumers stymied over what comes next hitting consumer confidence Treasury Secretary Scott Bessent who is leading the administration s approach to China has announced he expects Beijing to call because the tariffs are not sustainable In an interview Thursday with Fox Business Bessent commented the main issue with Beijing was not high tariffs but other obstructions There s a whole range of bad behavior by the Chinese Bessent declared mentioning theft of intellectual property like trademarks and cyberhacking So everything is on the table for the economic relationship he revealed adding I am confident that the Chinese will want to reach a deal Beijing has shown scant willingness to compromise however with its foreign ministry posting a strident video on social media this week saying the U S has stirred up a global tariff storm It vowed China would not kneel down in the pact war Kneeling only invites more bullying it declared