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MoneyChina Sticking to September U.S. Trade Talks After Tariff Delay

09:42  14 august  2019
09:42  14 august  2019 Source:   msn.com

Trump to raise tariffs on $300 billion worth of China goods

Trump to raise tariffs on $300 billion worth of China goods President Donald Trump said Thursday he will impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1 as talks aimed at easting tensions between the world's two largest economies continue. "Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%," Trump tweeted.

Talks between the U . S . and China to resolve their year-long trade standoff appeared to be on life-support Monday, with Beijing struggling to respond Trump' s Tariff Threat Leaves Beijing Stalling on Next Talks . Jenny Leonard, Steven Yang and Lucille Liu. , Trump on Sunday said he’ll raise duties on

The U . S . Trade Representative' s Office action was published just minutes after China ' s Ministry of Commerce said Vice Premier Liu He The exemptions, combined with renewed talks with China , suggest Trump may be willing to compromise. Other products that will have tariffs delayed until Dec.

China Sticking to September U.S. Trade Talks After Tariff Delay© Fevziie Ryman\Getty China Sticking to September U.S. Trade Talks After Tariff Delay

(Bloomberg) --

Chinese officials are sticking to their plan to visit Washington in September for face-to-face trade meetings, people familiar with the matter said, signaling that talks remain on track for now despite an abrupt escalation in tariff threats this month.

The U.S. on Tuesday delayed the imposition of some new tariffs after top negotiators spoke on the phone, with President Donald Trump saying the encounter was “very productive,” and that he thinks Beijing wants to “do something dramatic” to end the impasse.

Beijing responds to Trump's new $300 billion tariff threat

Beijing responds to Trump's new $300 billion tariff threat President Donald Trump has announced tariffs on the roughly $300 billion of Chinese goods that had not been targeted by American levies. The charge will take effect from September 1. The move breaks a truce in the long-running trade war between Washington and Beijing, with investors fearful it could further disrupt global supply chains. The tariff threat also came as a surprise to financial markets, in large part because negotiators for the two sides had just met earlier this week in China. The Dow Jones Industrial Average closed 280.85 points lower at 26,583.

The U . S . Trade Representative' s Office action was published just minutes after China ' s Ministry of The delay in the tariffs that had been scheduled to start next month provides some relief to retailers. Although most stores would have stocked their holiday merchandise before the earlier September

The U . S . Trade Representative' s Office action was published just minutes after China ' s Ministry of Commerce said Vice Premier Liu He The exemptions, combined with renewed talks with China , suggest Trump may be willing to compromise. Other products that will have tariffs delayed until Dec.

That said, Chinese negotiators are not very optimistic of any imminent progress, one of the people said. Officials are unlikely to make concessions in the run up to October 1, the celebration of the 70th anniversary of the founding of the People’s Republic, the person said.

S&P 500 futures erased their losses, the yen pared gains and the yuan rose slightly on the news. The Ministry of Commerce did not immediately respond to a request for comment.

Read More: Trump Bows to Economic Fears in Move to Delay China Tariffs

Tensions between the world’s two biggest economies rose significantly this month after Trump said he would tariff another $300 billion of Chinese goods, prompting Beijing to halt U.S. agricultural purchases and allow the yuan to weaken. The escalation brought into question whether talks planned for September would still go ahead, with Trump saying it’s "fine" if they don’t.

U.S. trade deficit shrinks slightly; exports, imports fall

U.S. trade deficit shrinks slightly; exports, imports fall U.S. trade deficit shrinks slightly; exports, imports fall

WASHINGTON — President Trump delayed his own deadline to increase tariffs on Chinese goods on Sunday as his administration continues a monthslong effort to persuade Beijing to make significant structural changes to its economy that have so far proved elusive.

China has scrapped planned trade talks with the U . S . and is unlikely to sit down with Washington until after November’ s mid-term elections, according to U . S . industry has widely pushed back against the Trump administration’ s use of tariffs to force changes to China ’ s economy, and companies from

Though Trump has often denied his tariffs have any impact on consumer prices and insists their cost is being borne by China, he also said the delay had been made “so it won’t be relevant to the Christmas shopping season.”

Prospects for genuine progress in trade talks are low, especially as Chinese President Xi Jinping tackles weeks-long protests in Hong Kong that his government blames the U.S. for instigating.

Whether or not the talks actually take place also depends on developments between now and then, according to one of the people. The next call between the negotiating teams will be in two weeks.

(Adds market reaction in fourth paragraph.)

To contact Bloomberg News staff for this story: Steven Yang in Beijing at [email protected]

To contact the editors responsible for this story: John Liu at [email protected], ;Jeffrey Black at [email protected], Sharon Chen

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.

China threatens retaliation if US tariff hikes go ahead.
BEIJING — China on Thursday threatened retaliation if Washington steps up their war over trade and technology by going ahead with planned Sept. 1 tariff hikes on additional Chinese imports. Beijing will take unspecified "necessary countermeasures," the Cabinet said in a one-sentence statement. It gave no details or any indication plans for trade talks in Washington in September might be affected. The mounting tension has unnerved financial markets that worry the global economy will tip into recession.

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