China lodges protest over new US tariffs but refrains from immediate response
China lodged a formal protest against the latest round of trade tariffs announced by the US but said that for the moment being it would refrain from a like-for-like response, although a meeting between trade officials from both sides in September had yet to be confirmed.
At his regular weekly briefing, Chinese Ministry of Commerce spokesman, Gao Feng, reportedly said that the country had room to retaliate but that what should be on the table now - and most mattered - was how to go about removing the new tariffs in order to prevent a further escalation.
Gao also said that Beijing would lodge a "solemn representation" against Washington's latest tariffs.
On 23 August, the White House responded to a retaliatory increase in Chinese tariffs announced that same day with another increase of its own, imposing an additional 5.0% tariff on approximately $550.0bn-worth of Chinese exports representing nearly all of the Asian giant's annual sales of goods to the States.
According to Bloomberg, when queried if that meant that China would not retaliate at all for the latest increase in tariffs, Gao reiterated his previous statements.
Gao reportedly also said that if a Chinese trade team went to the States in the following month, then the trade teams should work together to create the conditions needed for the talks to make progress.
"Escalation of the trade war won't benefit China, nor the US, nor the world."
During the previous week, reports had appeared to indicate that a Chinese delegation had already made preparations to travel to the US.
Gao did say that the two teams had been in "effective communications", adding that he hoped that the US could cancel the latest set of tariffs in order to avoid an escalation, Reuters reported.
"We hope the United States will show sincerity and concrete actions."
Bloomberg meanwhile had Gao down as saying: "There are all kinds of rumours flying around right now.
"We will clarify the facts regarding trade and let the public know the truth".
Nonetheless, some City-based analysts were being cautious, with the likes of Oanda's Craig Erlam telling clients: "The unfortunate reality is that these comments are likely more hot air but with everything that's happening at the moment, they do provide rays of hope."