China said Monday it still plans to send negotiators to the United States for trade talks even after President Donald Trump vowed to raise tariffs later this week, a threat that sent stock markets into a tailspin.
Trump upped the ante as negotiators prepared to meet in Washington on Wednesday for what has been billed as a last-ditch round of negotiations to reach a deal or revive the trade war.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump wrote on Twitter on Sunday.
The US leader said tariffs on $200 billion in Chinese goods would increase from 10 percent to 25 percent on Friday. The United States is already applying custom duties of 25 percent on $50 billion in Chinese high-tech products.
Trump also renewed a threat to impose tariffs on all Chinese imports to the US — worth $539.5 billion last year.
Despite Trump’s tweetstorm, Chinese foreign ministry spokesman Geng Shuang said a Chinese team was “currently preparing to go to the US for negotiations” — but he did not say when or whether top negotiator Liu He would lead the delegation.
Geng said “positive progress” has been made in 10 rounds of high-level negotiations and that the whole world was watching.
“We still hope that the US can work together with China, walk shoulder to shoulder and strive for a mutually beneficial win-win agreement on the basis of mutual respect,” he said at a regular press briefing.
“This is not only in line with the interests of the Chinese side but also the interests of the US and the international community,” Geng said.
The Wall Street Journal had earlier reported that China was considering cancelling the talks.
“China shouldn’t negotiate with a gun pointed to its head,” the newspaper quoted a person briefed on the matter as saying, using a line Beijing has repeatedly said in the past.