Economics: Trump’s New Threats Danger US-China Tariff Talks
ECONOMICS – According to the Wall Street Journal, the new threats of Washington of imposing further tariffs on $200 billion worth of Chinese goods are putting the US-China tariffs talks at risk. Supposedly, the trade discussion aims to ease the trade tension between the United States and China.
Based on reports, China is considering refusing the talks headed by U.S. Treasury Secretary Steven Mnuchin, mentioning that the officials, who are knowledgeable about the discussions, are not prepared to negotiate with a “gun pointed to its head.” Moreover, the reports stated that they are considering making potential retaliation steps.
On Thursday, President Donald Trump provided aides for the imposition of additional tariffs on Chinese products. This is despite the attempts of his secretary to resume talks with Beijing for the resolution of the trade war, as per the sources.
There was a delay in the announcement of the new set of tariffs as the government considers revisions to meet the concerns of the public, sources said. Sources added that President Donald Trump might run low on products which have no significant backlash from companies and consumers in the United States.
Economics: China will not be content to only play defense – Global Times
Global Times reported that Beijing will not be content to only play defense in the worsening trade conflict with the United States. This is amid the announcement of President Donald Trump to place additional tariffs on Chinese tariffs worth $200 billion as early as today.
Beijing and Washington have already charged duties on each other’s goods worth $50 billion in a worsening row. This had shaken the world financial markets during the past few months.
The US Treasury Department had extended invitations last week to senior Chinese officials during Vice Premier Liu He to resume the tariffs talks.
According to a source, Trump is expected to announce the new tariffs as early as Monday.
“It is nothing new for the U.S. to try to escalate tensions so as to exploit more gains at the negotiating table. We are looking forward to a more beautiful counter-attack and will keep increasing the pain felt by the U.S.,” Global Times wrote in its editorial on Monday.
Based on sources, China will also likely to restrict the export of goods, raw materials and components core to the manufacturing supply chains of the United States.
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