Beijing, May 23 (IANS): The US should show sincerity and correct their wrong practices if the country wants to continue trade talks with Beijing, Chinese Commerce Ministry said on Thursday.
China's stance on talks has always been clear, Commerce Ministry's spokesman Gao Feng told a press conference.
"The US has been escalating trade frictions using various moves, dealing a heavy blow to bilateral economic and trade talks. Only on the basis of equal treatment and mutual respect will talks be likely to move on," Gao was quoted as saying by Xinhua news agency.
He added that Beijing will never compromise on major issues of principle, as cooperation is based on certain principles and there are bottom lines for negotiations.
According to him, the latest wrong practices of Washington "added to economic and trade tension, not only seriously hurting the interests of enterprises and consumers of both countries, but also having a recessionary impact on global economy".
The Organization for Economic Cooperation and Development has lowered its forecast for global economic growth, saying that trade tensions have weighed on global growth and will continue to threaten investment and growth.