On Friday morning, a spokesperson for China’s ministry of commerce announced that Beijing was assessing the possibility of tariff negotiations with the United States.
It was news the rest of the world had been waiting to hear as astonishingly high tariffs – up to 245% on some Chinese exports to the US – throttle trade between the world’s two biggest economies, raising the spectre of a recession.
“US officials have repeatedly expressed their willingness to negotiate with China on tariffs,” the spokesperson told reporters.
“China’s position is consistent. If we fight, we will fight to the end; if we talk, the door is open… If the US wants to talk, it should show its sincerity and be prepared to correct its wrong practices and cancel unilateral tariffs.”