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Chinese envoy says trade talks with US have not broken down

AP  |  Beijing 

China's to trade talks in says the failure to strike a deal in the tariffs war with the US was "just a small setback" and negotiations will continue despite increases in import duties on American imports from

In comments to reporters before he left for on Friday, said he was cautiously optimistic but that a deal would require the to agree to end the punitive tariffs it has imposed on billions of dollars' worth of Chinese goods.

In comments carried by China's state-run CCTV, Liu said the remaining differences are crucial ones having to do with principles, "and we will make no concessions on matters of principle."

Still, he said he did not believe the negotiations had broken down.

"On the contrary, I think it is just a small setback in the talks between two countries, which is inevitable," Hong Kong's TV showed him as saying.

Liu said it was "China's opinion that the tariffs are the starting point of the trade friction and must be totally lifted if a deal is reached."

The raised tariffs on billions of dollars of Chinese goods to 25 per cent from 10 per cent on Friday.

US Trade said the US was preparing to expand those tariffs to cover USD 300 billion of Chinese products that aren't already facing import taxes, or virtually everything imported from

Liu also said the two sides were disagreeing over the amount of goods would pledge to purchase from the US to help reduce the American trade deficit.

"We think this is a very serious issue and we cannot easily change our minds," he said.

Liu sought to downplay the scale and impact of the dispute, saying that China was a strong nation and would surmount any problems caused by the conflict.

"We just had differences on the wording in certain documents and we hoped to solve the differences," he said.

"Therefore, we think it unnecessary to make an overreaction to it.

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

First Published: Sat, May 11 2019. 19:21 IST