As the conflict started to hit new heights, according to Fox News, with President Donald Trump’s declaration of new tariffs on Friday and a Sunday statement that he was considering declaring a national emergency that could freeze business relationships between American companies and China, the Chinese government signaled Monday it might have had enough.
In a statement, China said it wants a “calm” end to hostilities — and Trump sounded very open to the idea of cooling things down.
According to Fox, the latest development came after White House officials on Friday said Trump was considering levying even more tariffs on Chinese goods being sold in the United States.
Trump, in France for the G-7 summit of the world’s top industrial countries, also published a Twitter post mocking media coverage of international events — including the trade war with China.
In France we are all laughing at how knowingly inaccurate the U.S. reporting of events and conversations at the G-7 is. These Leaders, and many others, are getting a major case study of Fake News at it’s finest! They’ve got it all wrong, from Iran, to China Tariffs, to Boris!
— Donald J. Trump (@realDonaldTrump) August 25, 2019
In China on Monday, according to Fox, Chinese Vice Premier Liu He told a state-controlled newspaper that “China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict.”
Liu is China’s top trade negotiator, Fox reported.
Do you think the U.S. will win the trade war with China?
“We believe that the escalation of the trade war is not beneficial for China, the United States, nor to the interests of the people of the world,” he said.
While the United States stock market has taken a battering during the trade unpleasantness, the pain hasn’t been restricted to the U.S.
According to Fox, Asian markets started tanking as soon as trading opened on Monday, and the value of the Chinese yuan slipped again. (The U.S. has already officially accused China of manipulating its currency as a weapon in the trade fight.)
Here’s how Asia Times reported the developments:
“It’s just another manic Monday. Asian markets tanked and the yuan hit an 11-year low after US President Donald Trump ramped up his trade war with China by imposing more tariffs on half-a-trillion dollars worth of imports.
“The decision on Friday stunned investors, hammering European and Wall Street stocks, while safe havens such as the yen and gold surged.
“To add to the mayhem, Trump also called for US firms to leave China and demanded that the Federal Reserve cut interest rates.”
Apparently, the pressure had the desired effect.
On Monday, according to MSN, Trump said the Chinese had called on Sunday and “said let’s get back to the table.”
President Trump said he believed China wanted to make a trade deal after contacting U.S. trade officials overnight to say it wanted to return to the negotiating table.
President Trump also said he wanted to see a strong Iran and was not seeking a change of leadership in Tehran. pic.twitter.com/UpHEsyICr6
— NBC News (@NBCNews) August 26, 2019
“I think we’re going to have a deal, because now we’re dealing on proper terms,” Trump said. “They understand and we understand.
“Very big things are happening with China.”
It’s worth remembering that the U.S. and China appeared to have a deal all but finished back in May. The Chinese government reversed course at the last minute, as Reuters reported at the time, sparking the three-month trade war that has hurt both countries economies.
But if Liu’s statement about wanting a “calm” end to the conflict can be believed, it could well mark the end to a situation that put the whole world on notice of a possible global recession.
Given the strength of the United States economy during the Trump administration, and Democratic hopes to use any potential downturn against Trump in the 2020 presidential election, it could have wide ramifications in domestic politics too.
But if Liu’s statement is just another ploy, like the deal that fell apart in May, the conflict is likely to get even deeper.
Either way, the trade war has definitely hit a turning point.
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China tried to bluff but they know the odds when their economy is much smaller than the U.S.. Now, it also has far reaching consequences if the U.S. decides to start trading with other countries and leaving China plus companies are also taking their business elsewhere.
I would love to see China bow. But an even playing field with china would be better. Funny thing is that Trump was right and the Democrats were wrong. And all the people that doubted a Businessman that this would work was a fool. Farmers are complaining there losing there farms. Well grow something that will earn you money not growing things that don’t. America needs to wake up instead of being a bunch of sheep. This is why I like Trump he is willing to take chances something this country hasn’t had a leader in decades that was willing to do.
Mr Hibbard our infected education system and the worthless leftist scum in what is supposed to be the news(sic) media have failed for many years to inform the public as to international interests. During the period 2000 to 2008 the media’s mission was to ridicule GWB.. it 2016 they resumed the attack of the GOP with some of the worst comments that I have had the disgusting displeasure to hear, see, and read. Most of the immature, uneducated, inexperience, and indoctrinated graduates of our high schools and the manure mill that most universities have become have NO CLUE as to what tariffs are or for that matter what “import duties” are. Then add injury to insult the scum take up the chant to insult the President without bothering to report what other countries apply to US goods that are imported into their countries.. in addition the cheerlead the leftist running for president instead of defining where some of their communist policies would lead the USA in just a few short years.. time for themature adult, non PC, USA loving conservative constitutionalists to regain power and control of this down hill race to the cesspool…
I’m chinese, born and raised in the USA & I hate what my brethren have become. Greedy imperialists that want to take all of Asia. I grew up proud of my heritage but am now ashamed of how cold, calculated & lazy the Chinese ppl have become. Yes I said lazy, my aunt spent a large sum bringing uncles over to the promise of the American Dream. They went back within six months! They were lazy cuz in China they got paid no matter how little they worked!Communism makes it worse w all the corruption also! SMH
As usual since taking office President Trump has been proven right in his assessment and judgment of a situation that affects and benefits American interests. He has accomplished a tremendous amount of good for all Americans with no help at all from the worthless democRATS.
So proud of our President for not backing down, He is a WINNER!
Winning! Winning! Winning!
The iron fist is the only thing they understand.where polititions look to appease anyone who challenges them, Trump, the non career politition buisness man holds negotiators accountable. The career politition only has their ideals that they feel are important. Today’s democrats have no leadership qualities. Their idea is to allow a full take over by the UN.
I think the President and his staff are well aware of what china might pull. they have already take steps to counter anything china might pull
Yeah , yeah , yeah . Hooray for Donal Trump. USA president . Kick every country to the curve , let’s keep America great again . And make all leaders of this world look up to USA . Keep up the good work , Mr president , and I’ll see you for 4 more years in 2020 …
China still stealing trade secrets
We have foolishly let American people and companies indulge in dangerous trade practices.
We are closing stores by the hundreds because of the over importing of cheap goods from China that are not really needed therefore can not be sold here. This is pure greed by the people that want to make a quick buck.
Hey Dems, looks like Trump will win again. Do the nice thing for the people and the country and stay out of the way.