June 2, 2019 | Investopaper
China has issued an official white paper that claims that the US was the initiator of the trade dispute between the two economic giants. The tussle between giant economies has hugely influenced the global economy and stock market since last year. Lately, Donald Trump raised the tax on Chinese goods to 25 percent which further worsened the dispute which was looking to find a solution. Also, Chinese telecom giant Huawei was blacklisted to perform any sort of business with US firms.
The paper claims that the Chinese government was looking for talks with the US that would promote equality, mutual benefit, and trustworthiness. But the United States was not reliable and trustworthy during the negotiations. Vice Commerce Minister Wang Shouwen said that the primary reason for the lack of progress in negotiations is mainly due to inappropriate US actions in the past months.
Several U.S. media outlets have reported that Beijing backed out from basically all negotiating points during talks with the United States several weeks ago.