US-China talks break up after the US raises tariffs
Trade talks between the U.S. and China broke up Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports.
The tariff increase went ahead even after American and Chinese negotiators briefly met in Washington on Thursday and again on Friday, seeking to end a dispute that has disrupted billions of dollars in trade and shaken global financial markets. After a short session on Friday, the lead Chinese negotiator, Vice Premier Liu He, left the Office of the U.S. Trade Representative about midday. U.S.
The Trump administration escalated the confrontation again after the Chinese delegation left town. Lighthizer announced Friday evening that he was preparing to impose tariffs on the $300 billion in Chinese imports that haven't already been targeted. The government will have to get public comment before it can target more Chinese goods.Earlier, Trump asserted in a tweet that his tariffs"will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind.
The latest increase extends 25% duties to a total of $250 billion of Chinese imports, including $50 billion worth that were already being taxed at 25%. Trump has said he is planning to expand penalties to all Chinese goods shipped to the United States. "While most of the vehicles we sell in China are built in China, Ford does export a number of vehicles to China from the U.S.," McCleery said."Our biggest concerns are impacts retaliatory tariffs would have on our exports and our expanding customer base in China."
Despite the public acrimony, local Chinese officials who want to attract American investment have tried to reassure companies there is"minimal retaliation," he said."We've actually seen an increased sensitivity to U.S. companies at the local level," he added.
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