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U.S.-China Trade Talks Back in Limbo Again
An accord to end the trade war between the U.S. and China remains elusive after the U.S. accused China of reneging on commitments that had made a deal appear imminent.
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An accord to end the trade war between the U.S. and China remains elusive after the U.S. accused China of reneging on commitments that had made a deal appear imminent.
Trade envoys returned from talks in Beijing last weekend to report that China had retreated from its previous position, thereby moving the talks “substantially backwards.” China claims that the disputed concessions must be accomplished through regulatory and administrative action rather than the legislative changes the U.S. wants.
The backpedaling prompted a frustrated President Donald Trump to reactivate plans to hike tariffs on $200 billion worth of Chinese goods to 25% from the current 10%. He says the new levies will go into effect on Friday.
China’s top-level negotiating team said earlier Monday that it intends to resume talks in Washington, D.C., this week. But it isn’t clear whether the delegation will be led by Vice Premier Liu He as originally planned.
Meanwhile, reports say Trump and his senior advisors believe the U.S. economy is strong enough to withstand an escalation in the trade battle if necessary to win the substantive reforms the White House demands.
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