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US-China Trade Negotiations Have Collapsed

  • US-China Trade Negotiations Have Collapsed
    by Tyler Durden, https://www.zerohedge.com/
    High-level trade negotiations between Beijing and Washington have “ground to a halt” following Trump’s dramatic escalation proposing an additional $200 billion in tariffs on Chinese goods, Bloomberg reports.

    After three rounds of formal negotiations led by Commerce Secretary Wilbur Ross and Treasury Secretary Steven Mnuchin, communications between senior members of the Trump and Xi administrations have collapsed – with no immediate plans to restart formal talks.

    The diplomatic impasse makes it unlikely the two countries will stand down anytime soon from an intensifying trade war that is roiling financial markets and threatening the broadest global upswing in years. The Trump administration on Tuesday released a proposed list of an additional $200 billion in Chinese goods to be hit with tariffs. China’s Commerce Ministry said the tariffs, which cover everything from refrigerators to handbags, are “totally unacceptable.” –Bloomberg

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July 12, 2018 - Posted by | Economics | , , ,

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