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China, U.S. trade teams to hold talks

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China, U.S. trade teams to hold talks
FILE PHOTO: Flags of U.S. and China are displayed at American International Chamber of Commerce (AICC)'s booth during China International Fair for Trade in Services in Beijing, China, May 28, 2019. REUTERS/Jason Lee   -   Copyright  JASON LEE(Reuters)
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BEIJING (Reuters) – Top Chinese and U.S. officials will hold trade talks following instructions from their leaders, the Chinese commerce ministry said on Thursday, adding that Beijing hoped Washington would create the necessary conditions for dialogue.

China hopes the United States will listen to its industry and stop threatening tariffs and waging a trade war, commerce ministry Gao Feng told reporters at a regular briefing.

Trade talks between the world’s two largest economies collapsed last month, with U.S. President Donald Trump accusing China of watering down its commitments. Trump raised tariffs on Chinese goods and has threatened even more.

In a telephone call with Trump on Tuesday, Chinese President Xi Jinping agreed to meet his U.S. counterpart in Japan’s western city of Osaka at the G20 summit at the end of next week.

Three main differences remain, including the removal of all the additional tariffs, Beijing says. Both sides have disagreed over trade purchases and a “balanced” text for any trade deal.

Those three “matters of principle” cannot be compromised, China has said.

Asked if China’s precondition for restarting talks was still tied to the three issues being met, Gao said its basic stance on the trade talks was consistent, and its fundamental demands must be met.

(Reporting by Yawen Chen and Ryan Woo; Editing by Clarence Fernandez)

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