President Trump told a rally of his supporters in Florida that China had 'broke the deal'Beijing has vowed to retaliate if the US carries out its threat to raise tariffs on $200bn of Chinese exports from Friday.
Donald Trump signalled the escalation in their trade war last Sunday, announcing the charges were to go up from 10% to 25% as his administration accused China of reneging on promises made during peace talks. Those negotiations are due to resume in Washington on Thursday, less than 24-hours before the tariffs are due to go up.
The talks will be attended by vice premier Liu He - signalling that relations have not entirely broken down. President Trump's threat was widely seen as holding a gun to Beijing's head, with his trade team saying it had hoped to sign an agreement to end the trade war but for China tearing up its commitments.The main area of disagreement is said to centre on the US allegations that China steals technology and pressures American companies into handing over trade secrets.China's Commerce Ministry said it would respond to any increase in tariffs but did not elaborate.
People need to stop buying tat.
The resulting slowdown of both economies is probably good for the environment. Silver lining I guess?
Why can't Trump-et get it through his head he cant win this battle? America can't compete with China's comparative cost advantage however they spin it!
And as China has found out the hard way? There economy has taken a serious beating and the U.S. economy continues to thrive. There's only one winner in this trade war, the United States.
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