China says it is considering the US proposal for tariff negotiations and strives for “sincerity”

China is evaluating the US offer for tariff talks but wants Washington to show “sincerity” and be ready to roll back tariffs that have rattled global markets and supply chains.

“Punishment” for US tariffs, which reached 145% on many Chinese goods, took effect in April, while Beijing responded with new 125% duties on imports from the United States.

Tariffs on high-tech goods such as smartphones, semiconductors and computers have been temporarily lifted.

US President Donald Trump has repeatedly said that China has sought tariff talks, and this week said he believes there is a “very good chance” of a deal between Washington and Beijing.

The paper added that dozens of countries need a 90-day deadline, which ends in July, to reach a deal with Washington and avoid higher tariffs for each country.

China has acknowledged that global economic turmoil has strained its economy, long dependent on exports, and officials have acknowledged that firms operating overseas are struggling. Data this week showed that manufacturing activity in the country shrank in April, with Beijing blaming a “sharp shift” in the global economy.

China’s exports rose more than 12% in March as businesses rushed to get ahead of the new tariffs.

Tags: USA, China