Last week a deal seemed close. Now the fear is of full-blown commercial conflict
MEETING IN WASHINGTON, Chinese and American trade negotiators made it through dinner without hurling the plates at each other. But there was no truce on the menu. One minute after midnight in Washington on May 10th, America carried through on its threat to ratchet up tariffs on Chinese goods. Two minutes later, China vowed to hit back. And so the world’s two biggest economies staggered a couple of steps closer to all-out trade war.
Just a week ago the mood regarding the talks was upbeat. Chinese and American officials had met multiple times since the start of the year. The outlines of a deal were becoming visible China would go at least partway to addressing American demands that it enhance protection of intellectual property, stop coerced technology transfers and open its market more widely to foreign investors.
Given the prospect of a breakdown in negotiations, it was heartening that Liu He, China’s lead trade envoy, still went to Washington for talks that began on May 9th. Some had speculated that China might call off the meetings entirely. But the scope for progress seems limited for now. Chinese officials have long said that they will not make deals in the face of threats.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trade frictions raise questions about China's fentanyl promiseChina has pledged to stem a flood of the synthetic opioid fentanyl onto America&...
Read more »
Donald Trump’s trade war hots upAmerica ratchets up the pressure in its trade war with China
Read more »
China shares, yuan rise on hopes for last-minute trade dealChinese shares and the yuan strengthened on Friday on signs Beijing and Washingt...
Read more »
US tariffs on China jump as deadline passes, China immediately says it will retaliateThe Trump administration is hiking duties on $200 billion worth of Chinese products to 25% from 10%.
Read more »
China's Sinopec, CNPC skip Iran oil buys for May as U.S. sanctions waivers end: sourcesChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Read more »
Sinopec, CNPC skip Iran oil purchases for May to avoid U.S. sanctionsChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Read more »
Cramer Remix: China needs us more than we need ChinaJim Cramer explains how the United States has the upper hand in trade negotiations with our stronger, cash fueled economy.
Read more »
US Navy destroyers sail near disputed islands claimed by China in South China SeaTwo U.S. guided missile destroyers sailed near disputed islands claimed by China in the South China Sea on Monday, the U.S. Navy says in a statement.
Read more »
U.S.-China tension will outlast Twitter trade spatGlobal markets fell after Donald Trump tweeted that he’d increase tariffs on Chinese goods. Even if trade talks get back on track, other U.S. moves will damage relations. They include curbs on investment from, and tech sales to, the PRC as well as an enforcement push.
Read more »