US And China To Continue Talking On Trade Issues
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2018-03-24 HKT 13:16
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China's top economic official Liu He spoke by phone with US Treasury Secretary Steven Mnuchin on Saturday and "agreed to continue to communicate" on trade issues.
The call came at a time of heightened tensions after US President Donald Trump on Thursday authorised tariffs on as much as US$60 billion of Chinese imports, targeting sectors in which Washington said Beijing has stolen American technology.
Liu, a Harvard-educated Communist Party official who was elevated on Monday to the key role of vice premier, is expected to oversee China's financial and economic sectors.
On the phone, he accused a US investigation of violating international trade rules and told Mnuchin that Beijing was ready to defend its interests, the official Xinhua news agency said.
"China is ready to defend its national interests and hopes that both sides will remain rational and work together to safeguard the overall stability of China-US economic and trade relations," Xinhua cited Liu as saying.
China warned the US on Friday that it was "not afraid of a trade war" as it threatened tariffs on US$3 billion worth of US goods in retaliation to Trump's new measures.
It unveiled a hit list of products from fresh fruit to pork that could face duties of up to 25 percent, though it stopped short of pulling the trigger as it indicated its readiness to negotiate an agreement.
In August, the US formally launched a trade investigation into China's intellectual property practices and the forced transfer of US technology.
Markets in Europe, Asia and America sold off on Friday on fears of a Sino-US trade war. (AFP)
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