Beijing: China on Wednesday called for dialogue and consultation with the United States regarding trade issues following accusations from US President Donald Trump. Trump alleged that Beijing is 'purposefully' avoiding the purchase of American soybeans and threatened to implement new trade restrictions in response.
According to Anadolu Agency, Trump expressed his concerns on Truth Social, stating, "I believe that China purposefully not buying our soybeans, and causing difficulty for our soybean farmers, is an economically hostile act." He mentioned that Washington is contemplating ending certain trade practices with Beijing, particularly concerning cooking oil and other trade elements, as a form of retribution.
In response, Chinese Foreign Ministry spokesman Lin Jian reiterated that China's position on economic and trade relations with the US remains 'consistent and clear.' Lin emphasized the importance of addressing trade-related issues through dialogue based on equality, respect, and mutual benefit.
US Agriculture Department's Foreign Agricultural Service data indicates that US soybean exports to China decreased significantly, from $17.9 billion in 2022 to $12.2 billion in 2024. Trump also noted that soybeans would be a central topic in a potential meeting with Chinese President Xi Jinping.
In a separate statement, Lin criticized the US for its tariff policies, accusing Washington of using threats and intimidation by imposing high tariffs and implementing new restrictive measures. He urged the US to correct its approach and resolve issues through dialogue based on mutual respect and reciprocity, noting that China's rare earth export controls comply with legal standards.
This comes after US Trade Representative Jamieson Greer suggested that additional 100% tariffs on Chinese exports might be enacted on Nov. 1, contingent on Beijing's actions. Greer remarked, "A lot depends on what the Chinese do," highlighting China's role in the escalating trade tensions.
Trump recently announced plans to impose new 100% tariffs on Chinese goods and restrict exports of 'critical software' following China's expansion of its rare earth export restrictions. Despite these tensions, Trump assured on Truth Social that "trade tensions with China will be resolved," urging people not to worry about the situation with China.