WASHINGTON (Reuters) – China is going to this week’s G-20 summit hoping for a deal to ease a damaging trade war with the United States, Beijing’s ambassador to Washington said on Tuesday, while warning of dire consequences if US hardliners try to separate the world’s two largest economies. Cui said China did not want to have a trade war and sought a negotiated solution to the impasse stemming from US President Donald Trump’s demands for far-reaching Chinese concessions to correct a $375 billion goods trade deficit with China. “This is very dangerous, this is like playing with fire,” he said when asked if China would consider selling Treasuries or reducing purchases should trade tensions worsen. Cui said China’s Treasury holdings were a good example of the economic interdependence between the United States and China. White House insiders say there remain substantial differences within the Trump administration over how far to push China.

Source: Egypt Independent November 28, 2018 14:15 UTC