Beijing hopes to settle trade disputes with Washington via dialogue: MOFCOM

China is willing to expand cooperation and properly settle disputes through dialogue and consultations with the US, a senior trade official said on Thursday, hoping that the US will work with China to maintain sound and stable development of Sino-US economic and trade relations.

Over the weekend, a US delegation led by Commerce Secretary Wilbur Ross visited China to consult with their Chinese counterparts on economic and trade issues.

“China and the US held frank and indepth consultations in Beijing and made positive and concrete progress on specific areas of trade cooperation, especially in the fields of agricultural products and energy,” Ministry of Commerce (MOFCOM) spokesman Gao Feng said at a regular press conference in Beijing on Thursday. Relevant details are yet to be confirmed by both sides.

According to a Wall Street Journal report released on Tuesday citing people briefed on the talks, China will buy nearly $70 billion worth of US farming, manufacturing and energy products if the US abandoned proposed tariffs on $50 billion worth of Chinese products. The offer would be void if the US proceeded with proposed tariffs.

Gao said that to meet Chinese people’s ever-growing need for a better life, China is willing to expand imports from the US as well as other countries and regions around the world. The move was also in line with China’s established strategies of further opening-up.

“China’s position is consistent and clear. We don’t want to see worsening trade frictions between the two countries,” Gao said.

The two nations should seek common ground while reserving differences to achieve reciprocal results, he said.

Gao urged all parties to strengthen dialogue and cooperation to promote the prosperity and development of the world economy.

Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics, told the Global Times on Thursday, “There is not much to say at this point. It all depends on the US attitude. China has showed its biggest sincerity in avoiding a trade war with the US.”

“But if the Trump administration continues to ignore ‘China’s goodwill,’ we will definitely roll back all our offers as well.”