China urges US to remove unreasonable tariffs

The United States should take steps to remove “unreasonable” US tariffs on China and create conditions to expand two-way trade, a Chinese commerce ministry spokesperson said on Thursday, when asked if China was set to purchase US soybeans.

Separately, the Chinese commerce ministry on Thursday launched an investigation into Mexico’s tariffs and other trade restrictive measures against China, a statement showed.

The measures under investigation include Mexico’s plans to raise tariffs on Chinese goods such as automobiles and parts, textiles and toys, as well as other trade and investment restrictions imposed in recent years, the statement said.

The investigation is due to be concluded in six months and can be extended, the ministry said.

WHITE HOUSE SEES PROGRESS

And in Washington, White House economic adviser Kevin Hassett on Thursday said the US has made enormous progress on trade talks with China in the last few months but considerable work remains.

US President Donald Trump and Chinese President Xi Jinping are discussing a range of things including Chinese purchases of Russia’s oil exports, Hassett said in an interview with Fox Business Network.

Washington has highlighted China and India as contributors to the Russia-Ukraine war due to their purchases of oil from Moscow.

US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent are talking to their counterparts practically every day. “I feel like compared to a few months ago, we’ve made an enormous amount of progress,” Hassett said.

Hassett said there were many items on the table in trade negotiations, adding that “we care very much about the fact that China has stopped buying our agricultural products.”

“We’re in a productive negotiation and looking forward to making a lot of progress between now and say, Thanksgiving,” he told “Mornings with Maria.”