China and the United States have agreed to continue talks about their trade dispute
WASHINGTON/BEIJING - U.S. President Donald Trump sounded optimistic about prospects for a trade deal with China on Tuesday even as his administration readied 25 percent tariffs on all remaining Chinese imports with no new talks scheduled.
“Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference,” he wrote in post addressing U.S. farmers directly.. As negotiations toward resolving the U.S.-China trade war stalled last week, Trump escalated pressure by increasing tariffs on Friday to 25 percent from 10 percent on a previous, $200 billion list of Chinese imports.China retaliated on Monday with higher tariffs on a revised list of $60 billion worth of U.S. products
However, the onshore yuan weakened 0.1% to its lowest level since Dec. 27, 2018, trading at 6.8874 per dollar, after China’s Foreign Ministry said it hoped the United States does not “underestimate China’s determination and will to safeguard its interests.” Geng put the blame on Washington for going back on its word in some previous rounds of talks, including last May, when the two reached an agreement in Washington but then the United States backed out a few days later.
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