Trade: United States should drop its win-at-all-costs mentality - People’s Daily/Reuters
|- People’s Daily urged the United States to cancel all tariffs on Chinese goods.
- AUD/USD trades as a proxy to the trade war noise.
Reuters has reported that the official People’s Daily said in an editorial on Saturday, that instead of waging a trade war with China, the United States should drop its win-at-all-costs mentality and consider the interests of its own people as well as the global community,
The Chinese Communist Party’s newspaper urged the United States to cancel all tariffs on Chinese goods, saying the only way to resolve trade issues was through “equal dialogue”.
Hopes that the two sides can rekindle negotiations were raised in the run-up to a meeting next week between President Xi Jinping and U.S. President Donald Trump in Japan, where they will both attend a Group of 20 summit.
The Office of the U.S. Trade Representative is holding seven days of hearings from manufacturers and other businesses likely to be affected by a new round of tariffs on $300 billion worth of Chinese imports proposed by U.S. President Donald Trump.
The People’s Daily said all previous hearings had shown “overwhelming” opposition to tariff increases from all walks of life, but it had made no difference.
“It seems that some people in the United States are waving the tariff stick in order to strengthen their so-called ‘industrial competitive advantage’,” it said.
- the article read.
The Australian dollar trades as a proxy to the trade war noise, benefitting on prospects of progress towards a solution while deteriorating hopes will weigh on the Aussie.
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