China: Only talks based on ‘equality and good faith’ will resolve trade dispute with US

A spokesman for China’s commerce minister said Thursday that Beijing will only resolve its trade dispute with the U.S. through negotiations made on equal footing and in good faith, according to The Associated Press.

“Dialogue and consultation based on equality and good faith is the only correct choice for resolving Chinese-U.S. trade frictions,” Gao Feng told the news service.

He asserted China’s willingness to wait out the trade war until beneficial terms are reached, adding that “China will proceed with reform and opening up at its own pace” no matter what pressure the U.S. applies, according to the AP.

Gao also said that the U.S. and China “maintain contact,” but did not provide details.

{mosads}On Aug. 23, President Trump slapped 25 percent tariffs on $16 billion in Chinese goods after talks between representatives from the two countries yielded no new agreements.

Trump told Reuters last Tuesday that he didn’t “anticipate much” from the talks, adding that it will “take time because China’s done too well for too long, and they’ve become spoiled.”

According to Reuters, the Trump administration is ready to level tariffs on another $200 billion in Chinese goods and Beijing is poised to retaliate.