U .S, China Trade Talks Ended minus Any Agreement: China Says Talks Have Not Broken Down

NEGOTIATIONS on ending the deadlock over trade between United States and China for two days have failed   as both sides tried to prevent sentiment from deteriorating further. The  talks between two economic  giants ended on Friday with-out a deal as President Trump raised tariffs on $200 billion worth of Chinese imports and hinted at a prolonged economic fight, says  The Economic  Times. However both sides are optimistic of resuming talks in mutual interest. China said the talks have not broken down. These are positive as POTUS Trump had predicted a signing ceremony for an “epic” trade deal with President Xi Jinping of China. In a series tweets on Friday, Trump threatened China saying that he would tax nearly all of China’s imports if the country continued to backtrack on a trade deal.“Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch!” Trump said on Friday morning, adding that the Chinese “should not renegotiate deals with the U.S. at the last minute.”. Trump and his advisers were surprised by what they saw as China’s attempt to renege on parts of an emerging trade deal, and two days of talks this week did nothing to resolve those concerns. Trump is now moving ahead with plans to impose 25 percent tariffs on all remaining Chinese imports. Those new tariffs could go into effect in a matter of weeks, said The New York Times. In tweets on Friday , President Trump said newly imposed 25% U.S. tariffs on $200 billion in Chinese imports would remain in place pending future negotiations. But he called the talks “candid and constructive” and said his relationship with Chinese President Xi Jinping “remains a very strong one and conversations into the future… Over the course of the past two days, the United States and China have held candid and constructive conversations on the status of the trade relationship between both countries. The relationship between President Xi and myself remain a very strong one, and conversations.@realDonaldTrump Replying to @realDonaldTrump…into the future will continue. In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations! 1 could be removed – as it happened.US has hiked the tariffs on $200bn of Chinese goods to 25% overnight, from 10%, escalating the battle between the two economic powers. But goods already sailing to US will be spared. Speaking on Friday after his meeting in Washington with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, China’s Vice President Liu He said the sticking points in the negotiations were about “crucial” matters regarding principle. But Liu told reporters the talks had been “productive” and said the two sides would meet again in Beijing at an unspecified date.”Negotiations have not broken down, but rather on the contrary, this is only a normal twist in the negotiations between the two countries. It is inevitable,” Liu said. “We have a consensus in lots of areas but to speak frankly there are areas we have differences on, and we believe these concern big principles.”(pic courtesy to ALAZEERA).

Leave a Reply

Your email address will not be published.