China Vice President Wang Qishan on Tuesday said the Chinese government is ready to hold discussions with the United States on issues of mutual concern and work towards reaching a trade solution that will be acceptable to both sides.
Both the US and China have imposed tariffs on each other products in the last few months. Neither of the two countries has shown signs of slowing down resulting in an increasingly bitter trade dispute. President Donald Trump has even warned of imposing further tariffs on $267 billion of Chinese imports if the two countries cannot reach a trade deal.
“The Chinese side is ready to have discussions with the U.S. on issues of mutual concern and work for a solution on trade acceptable to both sides,” Wang said while speaking at the inaugural Bloomberg New Economy Forum in Singapore, reported Bloomberg.
The Chinese Vice President added that the US and China must come together to encounter major problems plaguing the world.
“The world today faces many major problems that require close cooperation between China and the United States,” he said. “It is our firm belief that China and the U.S. will both gain from cooperation and lose from confrontation.”
He went on to say that neither negativity and anger nor barriers or disputes can help in addressing problems that have emerged in economic globalization. It will only worsen the situation leading to global market turbulence.
Wang repeated President Xi Jinping’s words that Beijing will embrace greater openness, amid mounting frictions with the United States.
The US and China are expected to hold a top-level diplomatic and security dialogue in Washington on Friday. All eyes are now set on President Trump’s meeting with Xi which is expected to be held at the G20 summit in Argentina later this month.