The United States voiced willingness to negotiate a resolution to an escalating trade fight with China after Beijing retaliated against proposed U.S. tariffs on $50 billion in Chinese goods by targeting key American imports, but the Chinese ambassador to Washington said it “takes two to tango”, Reuters reports.
Just 11 hours after President Donald Trump’s administration proposed 25 percent tariffs on some 1,300 Chinese industrial, technology, transport and medical products, China shot back with a list of similar duties on major American imports including soybeans, planes, cars, beef and chemicals.
Beijing’s swift and forceful response raised the prospect of a quickly spiraling dispute between the world’s two economic superpowers that could harm the global economy.
While Trump posted defiant messages on Twitter, his administration signaled possible wiggle room.