China to hold its ground as US-China trade talks resume

Chinese tabloid newspaper The Global Times said in an editorial on Thursday that ‘China must persist and not fear’ the United States (US) if it desires good results. According to the paper, Beijing has already sent a clear signal to Washington that ‘China can never be daunted’ in a recent telephone conversation.

‘As trade between China and the US is highly likely to continue, the two countries may eventually reach an agreement. But China will not be impatient or afraid of setbacks,’ the newspaper, which is published by the country’s ruling Communist Party People’s Daily said. 'Negotiation outcomes are not often obtained through talks, but through fights,' the paper added.

Separately, state-backed newspaper China Daily said in an editorial that although a single meeting between the US and China is unlikely for them to iron out all the trade issues, both parties are ready for a ‘serious dialogue’ as a trade war creates a ‘lose-lose’ situation.

Earlier this week, the US and China said they are rekindling trade talks and the teams from two sides are preparing for the meeting at the Group of 20 summit in Osaka, which will take place end June. The announcement was cheered on by financial markets.

Trade talks between both sides came to a standstill last month after the US accused China of backing off from previously-agreed commitments.

Washington has already imposed 25% of tariffs on US$250 billion of Chinese goods and has threatened to slap on tariffs on additional US$325 billion worth of goods.

China has retaliated with tariff hikes on US$60 billion of US goods.