China Ministry of Commerce spokesman Gao Feng said Thursday (August 29) Beijing "firmly reject[s] an escalation of the trade war," adding that it remains "willing to negotiate and collaborate in order to solve this problem with calm attitude."
China will not immediately retaliate over the duties announced by President Donald Trump that are set to take effect this weekend, Gao stated. "China has ample means for retaliation but thinks the question that should be discussed now is about removing the new tariffs to prevent escalation of the trade war," he said.
Gao noted that the U.S. and China have maintained "effective communications" since the last set of face-to-face talks in Shanghai in July. He added that the two sides are "still discussing" whether Chinese negotiators will travel to Washington for more in person talks in September.
On the U.S. side, Treasury Secretary Steven Mnuchin said officials still anticipate additional talks, but would not confirm whether the previously planned September meeting is still on tap. "We continue to have conversations. We’re planning for them to come," he told Bloomberg in an interview.
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