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Aug. 25, 2019, 11:56 p.m. EDT

China's top trade official says he hopes for 'calm' resolution to tariff war: report

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By Mike Murphy

China hopes to resolve the trade war with the U.S. through "calm" negotiations and is not seeking to escalate tensions, Vice Premier Liu He said Monday, according to Reuters . Citing a transcript from a tech conference in Chongqing, China, Reuters reported that Liu, who has led trade negotiations with the U.S., said no one benefits from a trade war. "We are willing to resolve the issue through consultations and cooperation in a calm attitude and resolutely oppose the escalation of the trade war," Liu said, according to Reuters. "We believe that the escalation of the trade war is not beneficial for China, the United States, nor to the interests of the people of the world." Tensions rose Friday when President Donald Trump vowed to increase tariffs against Chinese goods, and on Sunday the White House said Trump regretted not raising them even higher. The increased tensions sent Asian stock markets falling Monday, as well as U.S. stock futures.

Read the full story:
Trump says China ‘very badly’ wants trade deal with U.S.

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