China to continue trade negotiations, even after Trump's threat

BEIJING: China Said Monday Would Send Its Envoy For Trade Negotiations To Washington, Even After The US President Donald Trump Came With A Tweet That Threatened The Proposed Trade Agreement.

Trump Said On Friday He Would Raise $ 200 Billion Worth Of Chinese Goods From 10% To 25%. This Would Be A Turnaround In February, To Leave The Rate Unchanged During Trade Negotiations.

The Threat Caused The Shares Of 300 Top Chinese Companies Listed As CS300 To Fall 5.8% While Also Affecting US Futures. Trade Experts And The Market Expected China To Withdraw From The Negotiations Or Refuse To Send A Negotiating Team To Washington This Week. But Beijing Has Decided To Plow Through.

" We Are Also Understanding The Relevant Situation. What I Can Tell You Is That The Chinese Team Is Preparing To Go To The United States For Discussions," Said Foreign Ministry Spokesman Geng Shuang During A Briefing .

The Ministry Made It Clear That It Was Keen To Save The Deal. The Chinese Industry Has Been Heavily Affected By Washington's Rises In Rates. It Is Keen To Prevent Further Increases.

" What Is Vital Is That We Still Hope That The United States Can Work Hard With China To Meet Halfway And Strive To Reach A Mutually Beneficial Win-win Agreement Based On Mutual Respect" Geng Said.

What The Ministry Did Not Make Clear Is Whether China Would Send The Same Envoy, Deputy Prime Minister Liu He, As Head Of The Official Delegation As Originally Planned.

In His Tweet, The US President Also Complained That The Trade Negotiations Only Went Very Slowly And That China Tried To Negotiate On Certain Aspects.

" The Trade Agreement With China Goes Ahead, But Too Slowly, As They Try To Renegotiate. No!," Tweeted The US President.

He Indicated That The Scope Of The Tariff Would Be Extended By Introducing An Additional $ 325 Billion Worth Of Chinese Goods That Remain" Untaxed" .

The US President Also Said That His Policy To Tax Chinese Goods Had Paid Dividends." These Payments Are Partially Responsible For Our Great Economic Results," He Said.

Responding To Criticism That Rate Increases Make Goods More Expensive For US Consumers, Trump Tweeted:" The Rates Paid To The US Have Little Impact On Product Costs, Usually Borne By China."

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