China and the US have quietly started negotiating to ease tensions following US President Donald Trump’s decision to impose tariffs and quotas on steel and aluminium imports under Section 232, as reported by the Wall Street Journal.
Following the US government's proposal to impose tariffs on $60 billion worth of imports from China within the context of intellectual property rights on Thursday, March 22, the Chinese government had announced that it was considering a retaliation measure on $3 billion worth of imports from the US.
According to the report, the two countries have started negotiating to improve US access to Chinese markets after a week filled with harsh words from both sides. China's Vice Premier Liu He, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer have participated in the negotiations. Meanwhile, Chinese Premier Li Keqiang stated that China is working towards dialogue with the US on trade but is also prepared for a trade war, Chinese state television reported.