BEIJING 26 Aug (ANA) - China is seeking a "calm" end to the trade war with the U.S., as Asian markets crumble and China's currency plummeted to 11-year low after the Trump administration announced $550 billion tarrifs on Chinese goods.

 

Trump said Monday that officials from China called U.S. officials and expressed interest to "get back to the table,” The Wall Street Journal reported. He called the discussions a “very positive development.”

 

“They want to make a deal. That’s a great thing,” he said.

 

News of the possible opening in negotiations came shortly after President Trump threatened to declare a national emergency that would result in American businesses freezing their relationships with China. Trump's tariff barrage on Friday was a response to China imposing its own retaliatory tariffs on $75 billion in U.S. goods.

 

At the Group of Seven summit in France on Sunday, White House officials rejected suggestions the president was wavering and insisted that his only regret was not implementing even more tariffs on China. Trump wrote on Twitter that world leaders at the G-7 were "laughing" at all the inaccurate media coverage of the gathering.

 

In response, Chinese Vice Premier Liu He told a state-controlled newspaper on Monday that "China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict," Reuters first reported, citing a transcript of his remarks provided by the Chinese government. Liu is China's top trade negotiator.

 

Speaking at a technology conference in China, Liu added: “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."

 

“We welcome enterprises from all over the world, including the United States, to invest and operate in China,” Liu said. “We will continue to create a good investment environment, protect intellectual property rights, promote the development of smart intelligent industries with our market open, resolutely oppose technological blockades and protectionism, and strive to protect the completeness of the supply chain.”

 

Asian shares tumbled early Monday, with Japan's benchmark Nikkei 225 started plummeting as soon as trading began and stood at 20,234.87 in the morning session, down 2.3 percent. Australia's S&P/ASX 200 slipped 1.5 percent to 6,427.20. South Korea's Kospi lost 1.7 percent to 1,916.14. Hong Kong's Hang Seng dropped 3.3 percent to 25,309.37, while the Shanghai Composite was down 1.2 percent at 2,862.87.(ANA)

FA/ANA/26 August 2019-----