Trump also announced the US would cut ties with Huawei, which has become a bargaining chip at the center of trade negotiations.
, a Chinese telecommunications and smartphone giant that has become a bargaining chip at the center of trade negotiations. While he added that ban could change if a deal were reached, the prospect of de-escalation has dimmed in recent days.
Derek Scissors, a China scholar at the conservative-leaning American Enterprise Institute, said he saw a significant chance of new tariffs. The key event to watch was the August 19 expiration of the temporary general license for supplying Huawei, he added. "If the US announces new, long-term licenses by then, China has a reason to respond cooperatively," Scissors said."Otherwise, there's very little time before the tariff deadline."in the yearlong economic dispute between the US and China, which has together led to more than $350 billion worth of tariffs and weighed on global trade flows.
Angry at China for not following through with a pledge to buy more agricultural products from the US, Trump announced plans to raise tariffs on Thursday. China has sought to reduce its reliance on American farmers in an effort to retaliate against the Trump administration. China has continued to respond with countermeasures, suggesting this week it would wield the agricultural market and its currency against the US. The Treasury Department named China a currency manipulator in a rare move Monday after the yuan fell beyond the
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