China markets tank, now they seek 'calm' end to trade war with Trump
As tensions rise between the United States and China's trade war, China has now signaled they would like a "calm" end to everything.
Asian markets tanked and China's currency sank to an 11 year low following the United States' latest tariffs on $550 billion in Chinese goods.
Trump had earlier threatened to declare a national emergency that would result in American businesses freezing their relationships with China, which quickly prompted China to take a step back and realize just how serious the President means what he says. News of possible negotiations followed soon after.
Initially signalling it would not be bullied, China imposed its own retaliatory tariffs on $75 billion in U.S. goods, after the United States imposed tariffs of their own on China. In retaliation, Trump unleashed a barrage of new tariffs on China.
Seemingly looking to end tensions, China now seeks a "calm" approach to ending the trade war. Trump continues to say any deal made will be a good one for the United States.
Trump said Monday that officials from China called U.S. officials and expressed interest to "get back to the table,” The Wall Street Journal reported. He called the discussions a “very positive development.”
Chinese Vice Premier Liu He, a top trade negotiator for China, told a state controlled newspaper this on Monday:
"China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict," Reuters first reported, citing a transcript of his remarks provided by the Chinese government.
In a separate statement at a technology conference in China, Liu had this to say:
"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."
Trump was very positive about a deal in light of the recent news.
"I think we're going to have a deal," Trump told reporters.