China says successful US trade talks make return to tariff war unnecessary
FILE PHOTO: Chinese Commerce Minister Wang Wentao arrives at Lancaster House, on the second day scheduled for trade talks between the U.S. and China, in London, Britain, June 10, 2025. REUTERS/Toby Melville/File Photo
BEIJING - China wants to bring its trade ties with the U.S. back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the U.S. to act in a manner befitting of a superpower.
Commerce Minister Wang Wentao told reporters on Friday that the "ups and downs" in the two countries' relationship underscored their economic interdependence.
Asked about the United States specifically, Wang said: "Major countries should act like major countries. They must shoulder their responsibilities," adding that China would protect its national interests.
China is facing an August 12 deadline to reach a durable tariff agreement with the United States, after Beijing and Washington reached a preliminary deal last month to end weeks of escalating tit-for-tat tariffs.
If no deal is reached, global supply chains could face renewed turmoil from duties exceeding 100%.
Wang said negotiations in Geneva and London earlier this year demonstrated there was no need to return to a trade war.
"Practice has proven that through dialogue and consultation, with leadership and communication at the highest levels, we can properly manage contradictions and resolve our differences," he said.
Top stories
Swipe. Select. Stay informed.
Singapore 30% of aviation jobs could be redesigned due to AI, automation; $200m fund to support workers: CAAS
Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences
Business Global fintech firms expanding in Singapore with larger offices, APAC hubs
Singapore UOB awarded $17.7m in civil suit against Lippo Marina Collection over inflated housing loans
Life Kinokuniya opens third bookstore in Raffles City, weeks ahead of schedule
Business DBS shares rally to a new record as STI clocks yet another high
Singapore 5 foreigners charged over scheme to deliberately get arrested in S'pore to sell sex drugs
Life F1 Singapore Grand Prix: Music acts Lewis Capaldi, Clean Bandit, Spice Girls' Melanie C added
"We will continue to strengthen dialogue and communication, deepen consensus, reduce misunderstandings, enhance cooperation, to jointly put China-U.S. economic and trade relations back on track to achieve healthy, stable and sustainable development."
China's rare earths exports rose 32% month-on-month in June, customs data showed on Monday, in a sign that agreements struck last month in London to free up the flow of the metals were possibly bearing fruit.
Chipmaker Nvidia will also resume selling its H20 AI chips to China, Chief Executive Jensen Huang said at an event in Beijing this week, a move U.S. Commerce Secretary Howard Lutnick said was also part of negotiations on rare earths.
Wang said on Friday that he had met Huang the previous day, describing the meeting as evidence that "as the dust settles, everyone has come to the conclusion - especially the U.S. side - that forced decoupling is impossible."
Wang said the current overall tariff level imposed by the U.S. on China was "still high" at 53.6%. Analysts have said that additional duties exceeding 35% will probably wipe out Chinese manufacturers' profit margins.
"Both sides have come to understand that they need each other, as lots of the goods and services that we exchange are irreplaceable, or at least difficult to exchange in the short-term," Wang said.
"China does not want a trade war, but it is not afraid of one," he reiterated. REUTERS
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Straits Times
an hour ago
- Straits Times
Putin meets top Iranian adviser Larijani, discusses Middle East tensions, nuclear issues
Find out what's new on ST website and app. Russian President Vladimir Putin reaffirmed Russia's position in favour of stabilising the Middle East region. MOSCOW - Russian President Vladimir Putin held a meeting on July 20 with Mr Ali Larijani, a senior adviser to Iran's Supreme Leader Ayatollah Ali Khamenei, Russian state-run RIA news agency reported, citing Kremlin spokesman Dmitry Peskov. The two discussed the escalating situation in the Middle East and issues surrounding Iran's nuclear programme. Mr Putin reaffirmed Russia's position in favour of stabilising the region and pursuing a political resolution to matters related to Iran's nuclear activities, Mr Peskov said. REUTERS

Straits Times
an hour ago
- Straits Times
Trump says he will help Afghans stuck in the UAE
FILE PHOTO: U.S. President Donald Trump speaks at a dinner with Republican Senators, in the State Dining Room at the White House in Washington, D.C., U.S., July 18, 2025. REUTERS/Annabelle Gordon/File Photo WASHINGTON - President Donald Trump said on Sunday he would help Afghans detained in the United Arab Emirates for years after fleeing their country when its Taliban leaders extended control over it. Trump, a Republican who has criticized high levels of immigration, suspended refugee resettlement after he took office in January. In April, the Trump administration terminated temporary deportation protections for thousands of Afghans in the U.S. "I will try to save them, starting right now," Trump said in a post on Truth Social that linked to an article on the Afghans held in limbo there. The UAE, a close security partner of the United States, agreed in 2021 to temporarily house several thousand Afghans evacuated from Kabul as the Taliban ousted the U.S.-backed government during the final stages of the U.S.-led withdrawal. Canada agreed in 2022 to resettle about 1,000 of the Afghans still held in the UAE after a U.S. request. It is unclear how many remain in the Gulf country. Nearly 200,000 Afghans have been brought to the U.S. by former President Joe Biden's administration since the chaotic U.S. troop withdrawal from Kabul. Refugees include family members of Afghan-American U.S. military personnel, children cleared to reunite with their parents, relatives of Afghans already admitted and tens of thousands of Afghans who worked for the U.S. government during the 20-year war. REUTERS Top stories Swipe. Select. Stay informed. Singapore Priority for singles, higher quota for second-timer families to kick in from HDB's July BTO exercise Singapore 1 in 3 vapes here laced with etomidate; MOH working with MHA to list it as illegal drug: Ong Ye Kung Asia Johor Bahru collision claims lives of e-hailing driver and Singapore passenger Sport Arsenal arrive in Singapore for pre-season matches with AC Milan and Newcastle Business Crypto exchange Tokenize to shut down Singapore operations Singapore 2-in-1 airport police robot on trial can patrol and serve as PMD with ride-hailing feature Singapore ComfortDelGro to discipline driver who flung relative's wheelchair out of taxi Singapore Minor Issues: Why I didn't send my daughters to my brand-name primary school

Straits Times
3 hours ago
- Straits Times
Japan's ruling coalition likely to lose upper house majority, exit poll shows
Find out what's new on ST website and app. While the ballot does not directly determine whether Japanese PM Shigeru Ishiba's minority government falls, it heaps pressure on the embattled leader. TOKYO - Japan's ruling coalition is likely to lose its majority in the upper house, an exit poll for July 20's election showed, potentially fuelling political instability in the world's fourth largest economy as a tariff deadline with the United States looms. While the ballot does not directly determine whether Prime Minister Shigeru Ishiba's shaky minority government falls, it heaps pressure on the embattled leader who also lost control of the more-powerful lower house in October . Ishiba's Liberal Democratic Party (LDP) and coalition partner Komeito needed 50 seats to retain control of the 248-seat upper chamber in an election where half the seats are up for grabs. They are forecast to secure 32 to 51 seats, the exit poll by public broadcaster NHK showed. The LDP, which has ruled Japan for most of the post-war period, had its worst showing in 15 years in October's lower house election. That has left Ishiba vulnerable to no-confidence motions that could topple his administration and trigger a fresh general election. REUTERS