China-US Trade Tensions: MOFCOM: No formal negotiations yet

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Europe

02:12

The Chinese Ministry of Commerce has made it clear: Beijing and Washington have NOT started any formal trade negotiations. This comes after the US said it's willing to negotiate, following China's request for consultation under the WTO framework.

GAO FENG SPOKESPERSON, MINISTRY OF COMMERCE "The US response is only procedural. We suggest no over-interpretation of this act. The US has acted in total denial of multilateralism and against WTO rules recently."

China filed the request earlier this month in the wake of US' announcement of tariffs on steel and aluminum. Washington's response came within the time limit for such processes under WTO rules.

Meanwhile, the US has been taking aim at Chinese telecommunication giants. Actions range from a 7-year components embargo on ZTE to the Federal Communications Commission's vote to restrict telecommunications suppliers that "pose a threat to national security", targeting ZTE again along with Huawei.

GAO FENG SPOKESPERSON, MINISTRY OF COMMERCE "We will take all necessary measures to fight for the lawful rights and interests of Chinese enterprises. We'll be keeping very close tabs on this. We have the resolve and means to deal with it."

Gao also said while the actions affect Chinese companies, the US will NOT emerge from the disputes unscathed.

GAO FENG SPOKESPERSON, MINISTRY OF COMMERCE "In the end, it's the US itself that will suffer. Job opportunities will be lost. Enterprises up and down the value chain will be taking the blow. Moreover, the global community will lose faith in the US' own business environment."

Gao also said the US should not underestimate China's resolve to safeguard the country's interests. China has already put in place anti-dumping measures on US sorghum, to take effect from Wednesday. Though Gao said this is a SEPARATE move and not in retaliation for escalating trade tensions. Sun Ye, CGTN, Beijing.