China criticizes 'protectionism' after U.S. steel tariff hike

Gao Feng a spokesman for China's Ministry of Commerce addresses reporters in Beijing

China Slates US Unilateralism And Protectionism After Tariff Move

According to the Wall Street Journal, China is allegedly trying to onboard other countries against the U.S. China is reportedly seeking trade allies in Europe and Asia by offering more open access to its markets.

Gao said he hoped the usa team would be able to "meet China halfway".

A foreign ministry spokeswoman complained the USA decision to renew a threat to raise duties on a $50 billion list of Chinese goods conflicts with an agreement in mid-May aimed at settling that dispute.

The United States and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each.

"We believe that when it comes to the problems in Sino-U.S. trade and business both sides should take a honest attitude in the spirit of equality and mutual respect to use dialogue and consultations to seek a mutually beneficial win-win solution".

Hua also called for handling trade disputes through talks on an equal basis and in a constructive way, which is "in line with the fundamental and long-term interests of both the Chinese and American people, as well as the common aspirations of the global community".

In an unexpected change in tone, the United States said on Tuesday that it still held the threat of imposing tariffs on $50 billion of imports from China unless it addressed the issue of theft of American intellectual property.

This new development came just days ahead of U.S. Commerce Secretary Wilbur Ross' scheduled trip to China.

In a statement, China's Commerce Ministry called on the United States to act in the spirit of earlier joint comments.

A source at an worldwide trading house based in China said enquiries about US agricultural products have increased, but buyers are still nervous.

Investors monitor stock prices at a securities company in Shanghai, May 30.

China is not willing to see an escalation in Sino-U.S. trade frictions, and believes the two countries have a huge potential for cooperation, Ministry of Commerce spokesman Gao Feng told reporters at a regular news briefing.

The trade spat between the top two economies of the world began last month with President Donald Trump imposing tariffs on steel and aluminum imports into U.S.

China pressed the U.S.to give ZTE a break after the Commerce Department cut off the company from USA suppliers to punish it for allegedly lying to American officials in a sanctions case.

But by cutting tariffs in more than 1,000 lightly traded categories, China could end up reducing its average tariff considerably without actually running the risk of a big surge in imports.

Earlier, China responded with a threat to retaliate with higher duties on a $50 billion list of American goods including soybeans, small aircraft, whiskey, electric vehicles and orange juice.

She also cited trade deals that the European Union is negotiating with several countries including Mexico - which was also hit by the new tariffs.

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