Trump says US-China trade talks were 'candid and constructive,' but no deal reached as new tariffs kick in.
President Donald Trump says the United States and China “held candid and constructive conversations” on trade after negotiators completed two days of talks Friday without reaching a deal.
The official spoke on condition of anonymity because they were not authorized to speak publicly on the matter. The official did not know when talks would resume. Pence’s businesses have been impacted by tariffs on Chinese imports because his companies buy tooling, molds and dyes, and castings for a variety of different products they produce. They’ve absorbed some of the costs, but they’ve also had to pass along price increases to customers.
Richards says he farms more than 6,000 acres of wheat, barley, soybeans, pinto beans and corn. He says tariffs have driven up the cost of the raw products he needs to run and supply his business and driven down the prices of what he has to sell. The organization represents companies that manufacture products such as utility vehicles, mowers, generators and chainsaws. Kiser says some of the parts for those products will be impacted because they’re imported from China. He worries competitors in other countries will have a competitive advantage now.
“Probably the main thing is customer relations — trying not to upset them too much when we have to increase our prices,” he says. The company in Genoa City, Wisconsin employs 10 people and so far has not had to deal with layoffs, but the higher prices has slowed their business, White says. He declines to say by how much.Ford spokeswoman Rachel McCleery says the company is most concerned about any retaliatory tariffs China might impose.
Toyota has in the past been outspoken against tariffs that could affect imported auto parts, warning it would raise production costs and lead to higher vehicle prices for U.S. consumers.A trade association whose members include the biggest U.S. tech powers says the hike in tariffs on Chinese imports will aggravate an already “significant toll on U.S. businesses, workers and consumers.”
Instead, Guterres offers general comments about “growing discontent with globalization” and says the escalating trade tensions over the last year could threaten “the very foundation of the rules-based multilateral trading system.” Trump tweeted Friday that the increased tariffs will bring in “FAR MORE wealth” to the United States, although a study by the Federal Reserve Bank of New York and Columbia and Princeton universities says the burden of Trump’s tariffs falls on U.S. consumers and businesses that buy imports.
The spokesman, Geng Shuang, spoke just hours after the U.S. raised tariffs Friday on $200 billion in imports from China to 25% from 10%. China said it would take unspecified countermeasures. Nogami said any trade measures should be in line with rules set by the World Trade Organization and Japan hopes “both the U.S. and China will work to constructively resolve their problems through dialogue.”China’s government says it will take “necessary countermeasures” in response to President Donald Trump’s latest tariff hike on Chinese imports but gave no details of possible retaliation.
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