JAKARTA - United States President Donald Trump said he was in no hurry to talk to President Chhina Xi Jinping in an effort to defuse a new trade war between the two countries with the world's largest economies triggered by a tariff of 10 percent on all Chinese imports.
China imposed a tariff targeted at US imports on Tuesday and warned several companies, including Google, of possible sanctions, in a measured response to Trump's rates.
"It's okay," Trump said at the White House when asked about China's countermeasures.
Talks between Xi and Trump are seen as key to potential easing or delaying rates, as Mexican and Canadian leaders did on Monday.
White House spokesman Krypto Leavitt told reporters Trump-Xi phone calls still needed to be scheduled.
President Xi has contacted President Trump to discuss this, perhaps to start negotiations. So we'll see how it goes, "Leavitt told Fox Business Network.
Beijing's limited response to Trump's 10 percent tariff on all Chinese imports underscores efforts by Chinese policymakers to engage Trump in talks to prevent a direct trade war between the world's two largest economies.
Liu Pengyu, a spokesman for China's embassy in Washington, said China hopes Washington will work closely with Beijing to ensure stable, healthy, and sustainable relations between the two countries.
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The International Monetary Fund (IMF), which last month warned a spike in protectionist policies could hit investment and disrupt supply chains, said it "has everyone's interest in finding constructive ways to resolve disputes and enable trade."
Capital Economics, a UK-based research company, estimates China's additional tariffs will apply to annual imports of US$20 billion, compared to US$450 billion in Chinese goods imposed by Trump rates which took effect on Tuesday.
"The measures are quite simple, at least compared to US actions, and have been adjusted to send messages to the US," said Julian Evans-Pritchard, head of China's Economics of the company.
Trump on Monday suspended a 25 percent tariff threat against Mexico and Canada, agreeing to a 30-day gap in exchange for concessions in the border and enforcement of crime.
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