US Treasury Secretary: There Is "A Way Out" for China-US Tariff Negotiations, High Tariffs Are Unsustainable for China
US Treasury Secretary Janet Yellen said in an interview with ABC News on the 27th that there is a path for both sides to reach a tariff agreement. She said, "I think there is a way. The first way is to ease the situation, and I believe China must do so. Then we can reach a principle agreement."
Yellen also stated that high tariffs are unsustainable for China's business model. She also claimed that during the IMF meeting held previously, she had contact with her Chinese counterparts, but the discussions "were mainly around traditional issues such as financial stability and global economic warnings," and did not involve tariff issues.
Yellen also said she didn't know if Trump had communicated with the Chinese side. This statement by Yellen was interpreted by US media as actually denying Trump's previous claim of having negotiations with China regarding tariff issues.
China's Ministry of Commerce previously stated that China does not provoke trouble but is not afraid of it either. Pressure, threats, and blackmail are not the correct ways to deal with China. The trade war was unilaterally provoked by the US side. China urged the US side to correct its wrong practices. If they want to negotiate, they should show sincerity in negotiation and return to the right track of equal dialogue and consultation.
Source: https://www.toutiao.com/article/1830631715166208/
Disclaimer: The article only represents the views of the author.