Trump Says China Has Blinked In Trade War — Talks On Again
President Donald Trump said Monday that China called to say it wants to go back to the bargaining table and restart trade talks with the United States.
Trump says Chinese officials called Washington to urge a return to negotiations after an impasse provoked stock market chaos last week, USA Today reported Monday.
The president was briefing reporters at the G-7 summit that is being hosted by France. He said China called twice to talk about renewed trade talks. Trump did not say whether he had personally had a conversation with Chinese President Xi Jinping. (RELATED: 32 Times The Press Said A Trade War With China Would Torpedo The US Economy)
“We’ve got two calls, very very good calls, very productive calls,” Trump told reporters. “They mean business.”
Trump tweeted a conciliatory message on Monday morning, proclaiming, “Great respect for the fact that President Xi & His Representatives want ‘calm resolution.’ So impressed that they are willing to come out & state the facts so accurately. This is why he is a great leader & representing a great country. Talks are continuing!”
Chinese Vice Premier Liu He reiterated his country’s apparent desire to negotiate in a statement Monday that urged “calm” negotiations that would avoid any further escalation of the trade crisis, according to Reuters.
The diplomatic breakthrough comes after Trump had promised to put another 5% tariff on $550 billion in Chinese products. That was a response to China’s plan to put tariffs on $75 billion of U.S. goods, Reuters noted.
The Dow Jones Industrial Index rose by over 200 points after markets opened Monday as a result of the news, CNBC reported.