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China in 'no rush' to restart trade talks

CNBC logo CNBC 5/20/2019 Maggie Fitzgerald
  • Beijing is in "no rush" to resume trade talks between the U.S. and China, according to the South China Morning Post.
  • Chinese analysts said China is prepared to suspend talks if President Trump wasn't "prepared to be realistic," the newspaper said.
  • China invited Secretary Mnuchin to Beijing for continued talks but an international relations expert at the Chinese Academy of Social Sciences said, "there is no need to get into frantic calculations about when he will come if the US continues to lack sincerity."
Xi Jinping, Donald Trump posing for the camera: China's President Xi Jinping (L) and US President Donald Trump review Chinese honour guards during a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.© Provided by CNBC LLC China's President Xi Jinping (L) and US President Donald Trump review Chinese honour guards during a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.

Beijing is in "no rush" to resume trade talks between the U.S. and China, the South China Morning Post reported on Saturday.

After CNBC's Kayla Tausche reported that trade talks between the U.S. and China have stalled on Friday, Chinese analysts said China is prepared to suspend meeting if President Trump wasn't "prepared to be realistic," the Chinese newspaper said.

China invited the U.S. delegation to Beijing and Secretary Mnuchin appeared open to the offer, however no scheduling was set in place and CNBC reported the negotiations are "in flux." The South China Morning Post said the Chinese state media have now "gone on the offensive."

"There is no need to get into frantic calculations about when he will come if the US continues to lack sincerity. After all, enough has been said by both sides in so many rounds of discussions," Tao Wenzhao, an international relations expert at the Chinese Academy of Social Sciences said.

Peking University international relations professor Jia Qingguo echoed Tao's sentiment when he said," the stand-off should last for a while because the US has refused to make even the slightest compromise – to a point that is somewhat unreasonable."

The trade war has heightened since China put retaliatory tariffs on $60 billion of American goods in response to Trump hiking tariffs on $200 billion of Chinese products. Investors are bracing for potential new tariffs to go into place by the U.S.

The Dow Jones Industrial Average is sent to open down about 100 points on Monday.

— Read the full South China Morning Post article here.

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