China says door for dialogue with the U.S. is open

Now AS HEARD in that report despite its imposition of hefty tariffs on China the Trump administration has also shared hopes for trade talks with Beijing.

And Beijing for its part claims its door for dialogue has always been open.

Lee Seung-jae has more.

The United States and China have been facing off with tariffs imposed left and right.

China responded to U.S. President Donald Trump's 104 percent tariffs by imposing an 84 percent tariff on American goods.

Trump quickly countered with additional tariffs against China, with levies now at up to 145 percent.

On Thursday, Beijing expressed its willingness to hold talks with the U.S. in the hope of putting an end to the tariff war.

"China's position is clear and consistent. If the United States wants to talk, our door is open. However, dialogue must be conducted on an equal footing and on the basis of mutual respect."

The spokesperson also warned that if the U.S insists on pursuing a tariff war, China will respond and "fight till the end."

She added that pressure, threats, or blackmail are not the right way to deal with China.

The European Union is also open for negotiations with the U.S., as it announced it would put its trade retaliation measures on hold for 90 days.

According to European Commission President Ursula von der Leyen on Thursday, the bloc "took note of the announcement by President Trump," adding that the EU wants to give negotiations a chance.

The European Commission spokesperson also announced the 27-member bloc's willingness to hold talks with Washington.

"We believe we can reach all sorts of beneficial outcomes from both sides that would avoid the types of tariffs that we believe are harmful and counterproductive. So we're continuing all our preparations, and we will continue to talk to our member states, talk to our industry, and we remain ready to engage in a meaningful way with the U.S."

Despite the tariff-for-tariff war between major economies, there are now hopes that the parties involved will sit down for talks, in a bid to ease the global trade tensions.

Lee Seung-jae, Arirang News.