China's Global Times newspaper said Sunday in an editorial that China "will never make concessions on major issues of principle". According to the Chinese state-run media, the reason for the trade dispute between two nations is that "the US has made a fundamental misjudgment, that is, believing China is unilaterally benefitting from China-US economic and trade relations".
Moreover, "the US has misunderstood the interests of both sides, and seriously underestimated China's endurance", according to Global Times.
"The US side blamed China for putting up obstacles for the trade talks and said that China went back on its word. What the Chinese Vice Premier said has allowed the truth to come out. The truth is, Washington tried to bring up terms that either harmed the sovereignty and dignity of China, or that were seriously unequal and unrealistic. Those requests have made the negotiations more difficul", according to Global Times.
The sides have been trying to overcome their disagreements that emerged in the wake of US President Donald Trump’s decision to impose 25 per cent tariffs on Chinese goods worth of $50 billion in a bid to fix the US-Chinese trade deficit last June. Since then, the sides have exchanged several rounds of trade duties.
On Thursday, US trade tariffs on $200 billion worth of Chinese goods were increased from 10 per cent to 25 per cent. US President Donald Trump also ordered tariffs to be raised on all remaining US imports from China, which are valued at around $300 billion. China said it was forced to retaliate against US pressure.
However, the US president has hinted that the tariffs may be removed depending on the results of the future trade talks.
Chinese Vice Premier Liu He said after his recent trade talks with the United States that he was confident in the sustainable and healthy development of the Chinese economy despite the pressure imposed on it.