Donald Trump vows new tariff hike on Chinese goods, escalating tension in trade talks
Dramatically Trump has increased China's pressure to reach a trade deal by announcing on Sunday that he would raise U.S. tariffs on read more....
Dramatically Trump has increased China's pressure to reach a trade deal by announcing on Sunday that he would raise U.S. tariffs on Chinese goods worth $ 200 billion this week and target hundreds of billions earlier.
The move has marked a significant escalation of tensions in between the world's largest economies and a tone shift from Trump, who cited as recently as Friday progress in trade talks. Stock markets fell, and oil prices collapsed as negotiations became doubtful.
The Wall Street Journal has reported that given Trump's comments, which took Chinese officials by surprise, China was considering canceling the trade talks in Washington this week.
Trump's decision was prompted by a less than rosy update from U.S. Trade Representative Robert Lighthizer, including details that China was withdrawing from some previous commitments.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” in a tweet, Trump said.
U.S. officials have not weighed on whether China is going to attend the talks this week. The White House and the United States The Office of the Trade Representative refused to comment. The Ministry of Commerce of China did not respond to a request for comment immediately.
“The atmosphere of the negotiations has changed,” a Chinese official knew the situation, he said.
The newspaper has published by the People's Daily of the ruling Communist Party, But this publication is not considered official and does not speak for the government.