On Sunday, the 2nd of June 2019, a senior Chinese official and member of a team of trade negotiators led by Vice Premiere Liu He, said that the United States could not use pressure to kneel down a nation to hammer out a trade deal that might have harmed the nation’s own economic sovereignty, while the trade negotiator had declined to mention whether the leaders and negotiators of the first- and second-largest economic superpowers of the world would be engaging in a meeting at the G20 Summit scheduled to be taken place between June 28th-29th in Japan to rubberstamp some kind of agreement that could soothe global markets for a while.
None the less, trade tensions had flamed sharply following US President Trump’s China tariff on $200 billion of import, which had witnessed a retaliatory measures on multiple fronts by Beijing including a tariff on $60 billion worth of US imports, slashing thousands of tons of US Soybean and pork import, meanwhile squeezing US agriculture industry further that forced Trump to sanction a $20 billion in aid-package for US farmers.
Besides, China had also threatened to create a corporate hit-list of foreign companies, in particular US-based companies operating in China, that it would likely to hit with some heavy battering. Adding that it was outrageous of United States to accuse China of backtracking, at a press briefing, Chinese Vice Commerce Minister, Wang Shouwen said, “If the U.S.
side wants to use extreme pressure, to escalate the trade friction, to force China to submit and make concessions, this is absolutely impossible. Nothing is agreed until everything is agreed. During the consultations, China has overcome many difficulties and put forward pragmatic solutions. However, the U.S. has backtracked, and when you give them an inch, they want a yard”.