Chinese Premier Li Keqiang doubled-down on his party’s commitment to treating foreign firms more fairly and openly, Reuters reports, stressing that negotiations should continue so as to avoid any trade war.
Li vowed at a news conference that China would no longer force foreign firms to transfer technology and appropriate intellectual property rights. This reconciliatory sentiment was echoed by China’s foreign ministry later on, which said it is open to holding talks with the US to resolve outstanding trade differences.
The US has continued to push China towards reducing its current $375 billion trade deficit, asking yesterday that China buy more US semiconductors and auto parts. President Trump’s economic adviser Peter Navarro, however, said in an interview with US news that the two countries were working together on a solution. “We’re hopeful there that China will work with us to basically address some of these practices,” Navarro said.