China Still Plans to Work Toward Trade Deal Despite New US Tariff Announcement

China will still send a delegation to meet with U.S. negotiators on a possible deal to resolve trade issues between the two countries, despite an announcement by President Donald Trump on May 5 to increase Section 301 tariffs against the country, according to a Ministry of Foreign Affairs spokesman. Trump tweeted that the U.S. will increase the current 10 percent tariff on $200 billion in goods to 25 percent on May 10, and may impose additional Section 301 tariffs on over $300 billion in Chinese exports.

“Regarding the US threat to levy additional tariffs on some Chinese products, there have been many similar precedents. China's position and attitude has always been clear and the US knows that very well,” the spokesman said. “The pressing task at the moment, which is also our hope, is that the US will work with China to meet each other half way and strive for a mutually-beneficial agreement on the basis of mutual respect.” While China has retaliated to each of the recent U.S. tariff increases, the spokesman didn’t mention any plans to retaliate.