Trump put forward three conditions for China, which China must meet. China's response is very direct, and we won't do anything to suffer dumb losses.

On October 20, the U.S. Foreign Ministry¡¯s routine press conference, Bloomberg reporter asked that the U.S. would hold a new round of Sino-U.S. economic and trade consultations. U.S. President Donald Trump said that the U.S. would list rare earth, phentanyl and soybeans as the three major issues that the U.S. would raise to China.

China's response is very direct, saying that tariff wars and trade wars are not in the interests of either party. China and the United States should resolve any issues through consultation on the basis of equality, respect and reciprocity.

Equality, respect, reciprocity, these six words are the answer to Trump.Now whether the issue of rare earth or phentanyl, or the export of U.S. soybeans, is Trump¡¯s top priority.

But since it wants help from China, it must have an attitude of asking for help. If China satisfies them, what price should the United States pay?

Speaking first of all about the rare earth issue, the United States is dependent on China's supply of rare earth, and recently China has strengthened export controls, and the United States feels this is a threat to the global supply chain.

On the issue of rare earth exports, China clearly pointed out that it is the United States itself is creating panic, China these controls are for the national security, not for whom.

China may ask the U.S. to lift its high-tech export ban on China, or be reciprocal in other areas, such as ceasing new tariffs.

In the second phentanyl issue, the United States says China is the main source of phentanyl, and many illegal phentanyl flows from China to the United States, killing many people. Trump demands that China completely stop phentanyl exports, strengthen production and export controls, such as catching manufacturers, blocking postal channels.

However, China has strengthened controls, such as listing all fentanyl drugs as controlled products and cooperating with the United States to crack down on drug trafficking. China is willing to deepen cooperation, but on equal terms and cannot let China unilaterally take the blame.

The matter of fentanyl has now been politicized by the United States and used as a bargaining chip in a trade war. The United States must also solve its own needs by itself, and don't blame it all on China.

Finally, there is the issue of soybeans. China is the largest buyer of U.S. soybeans, but when the trade war broke out, China stopped buying U.S. soybeans and switched to South America (zero imports in September, the first time in seven years). Trump was furious, calling it "economic hostility" and demanding that China resume purchases.

But in fact, one of the important reasons why China stopped buying American soybeans is that the United States has increased tariffs, so soybeans are not cost-effective if they are expensive, and it is cheaper to switch to South America.

China's position is that this is mutually beneficial, and the United States cannot unilaterally ask China to buy and buy.

The Ministry of Foreign Affairs made it very clear: Let's sit down and talk, respect each other, and don't engage in unilateralism.

From China's perspective, we must insist on negotiating with the United States on an equal footing and cannot be forced to make concessions. The United States now almost understands the truth that a trade war will hurt one thousand enemies and one hundred enemies.

But does the United States completely give up on ending the trade war with China, or does it continue the so-called "art of trading"? We're going to ride a donkey and read the song book.