China Trade War: Latest Round of Trade Talks End Without Deal
May 12 2019
China responded to Trump'stariffs a year ago with levies on a range of goods including soybeans and pork. And the U.S. is to blame for the risky turn of events, Chinese officials and analysts stressed.
The ministry issued an earlier statement vowing to take any necessary countermeasures if the tax is implemented.
If the US intentions were purely economic and exclusively predicated on rectifying the trade deficit between the two, then it would have been more understanding of the Chinese position, but its leader has instead resorted to publicly spewing insults against his counterparts on social media in what appears to be a fit of rage all because they wanted to ensure that there wouldn't be any unforeseen consequences to their economy if they complied with the proposed terms that were laid out in the deal that they were negotiating at that time.
Kind said the president's one-on-one trade war approach is making it easier for China to hurt Wisconsinites.
"It is like a marathon: the last phase can be the hardest", Liu told Hong Kong-based Phoenix TV after the trade talks. China will also restrain itself and both sides should not indefinitely escalate the tension. Unlike many other news organizations, we have not put up a paywall. "That would be unsafe".
Trump also noted that the massive tariffs he levied on China "may or may not be removed depending on what happens with respect to future negotiations!"
In comments carried by China's state-run CCTV, Liu said the remaining differences are crucial ones having to do with principles, "and we will make no concessions on matters of principle".
Even though President Trump has downplayed the impact of tariffs on the United States economy, the rise is likely to affect some American companies and consumers as firms may pass on some of the cost, analysts said. "However, we can not rule out other policy tools".
"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. "Why retaliate? All we need to do is boycotting United States products", one internet user said on Sina Weibo.
US stocks fell for a fifth day on Friday, leaving the S&P 500 Index poised for its biggest weekly drop this year, after Asian equities whipsawed in heavy trading.
Al Jazeera's Adrian Brown, reporting from Beijing, said there was pressure on both sides.
First-quarter GDP, for example, was boosted by inventory stockpiles as companies rushed to beat an earlier tariff deadline while underlying growth was weaker.
The possibility of an escalation in the dispute has rattled stock markets around the world.
The talks came to a conclusion Friday with no deal.
"I think he's finally realised that the Chinese tariffs have put a real strain on the countryside, and that if more tariffs are put on, the strain is going to get even worse", said Tom Vilsack, who was USDA secretary under Democratic then-President Barack Obama.
Hu Xijin, editor-in-chief of the Chinese newspaper Global Times, citing "an authoritative source", tweeted that "talks didn't break down".
Two possible outlets Mr Trump could use for sending government-purchased agricultural goods to countries overseas include the Food for Progress food aid program, in which USA agricultural commodities are donated to developing countries, and the Food for Peace program, which also provides United States food assistance, according to farm economy experts.
Some close observers said they were not hopeful for any meaningful breakthroughs on Friday.