Stock markets sink and oil prices tumble as negotiations are thrown into doubt
Washington —
US officials did not immediately know if China would attend and the US trade representative’s office did not immediately comment. China’s commerce ministry did not immediately respond to a request for comment.“I think Vice-Premier Liu He will very unlikely go to the US this week. Let Trump raise tariffs. Let’s see when trade talks can resume,” Hu Xijin, editor-in-chief of the tabloid the Global Times, tweeted.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump said in a tweet. Trump wants to keep some, if not all, of the existing tariffs on China as part of any final deal to ensure China lives up to its commitments, a White House official said on Sunday. Nevertheless, the president’s aggressive strategy drew rare bipartisan support from US Senate Democratic leader Chuck Schumer, who urged Trump to “hang tough” in a tweet: “Don’t back down. Strength is the only way to win with China.”
“That said, both sides have invested significant time and resource to come this far and are likely to want to preserve the progress achieved in recent months.”
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