US-China trade war escalates but Trump says 'no need to rush'

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President Donald Trump has said there is 'no need to rush' trade talks with China, just hours after the US hiked tariffs on Chinese products.

Two days of talks to resolve a worrisome US-China trade battle ended on Friday with no deal, but no breakdown either, offering a glimmer of hope that Washington and Beijing could find a way to avert damage to the global economy.

Talks with China continue in a very congenial manner - there is absolutely no need to rush - as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S....The US president also said that tariffs were in some ways preferable to reaching a trade deal at all.

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 remains a very strong one, and conversations...."The relationship between President Xi and myself remains a very strong one, and conversations into the future will continue.

Chinese Vice Premier Liu He told reporters that the talks had gone"fairly well," according to Bloomberg.

 

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