US President Donald Trump, , and Xi Jinping, , China’s president had earlier met over trade talks.
The move came less than 24 hours after Washington increased punitive duties on US$200 billion worth of Chinese imports, raising them to 25% from 10%, days after the Trump administration accused Beijing of reneging on its commitments. “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,” Trump tweeted.
The seemingly positive messages – coming before the announcement that Trump had ordered the latest round of tariffs – had cheered Wall Street with shares rising after being under pressure all week. “Every country has important principles, and we will not make concessions on matters of principle,” Liu said.Yang Delong, chief economist at First Seafront Fund Management in Shanghai, told AFP that the “sudden hardening” of Trump’s tone is likely linked to the 2020 US presidential election.
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