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China vows to defend its own interests in US trade talks

AP  |  Hong Kong 

said today it doesn't want to see increased trade tensions with the US as the two countries hold talks in this week, but it's prepared for any outcome and will defend its own interests.

The comments by a came after tweeted that there has been "no folding" in the discussions.

also told reporters that hopes the U.S. will take "concrete action" to resolve a case involving Chinese tech company ZTE, which hit with a crippling ban on buying from U.S. suppliers after it violated U.S. sanctions.

and Chinese are leading talks in on Thursday and Friday aimed at averting a trade war between the world's two biggest economies.

"We do not want to see the escalation of the trade frictions between and the U.S.," Gao said at a weekly briefing. "Of course, we are also prepared for all possibilities."

The has threatened to impose tariffs on up to $150 billion in Chinese imports to punish over trade practices requiring American companies to hand over technology in exchange for access to the Chinese market. China has counterpunched by targeting $50 billion in U.S. products.

ZTE's seven-year U.S. business ban, ordered last month, led the company to say it was ceasing operations because it cannot get the parts it needs for manufacturing and Earlier this week, Trump surprised many by hinting in a tweet that he wanted to find a way to keep the company afloat.

The two countries are reportedly attempting a swap: Relief for in return for dropping plans to impose tariffs on U.S.

"We will resolutely defend our own interests and will not trade our core interests," Gao said, when asked about the reports.

Trump tweeted on Wednesday, "Nothing has happened with except as it pertains to the larger trade deal." He also said the U.S. has not yet seen China's demands yet and added, "There has been no folding as the media would love people to believe.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 18:15 IST