US-China trade talks to continue

Reading Time: 1 minute

The talks will continue, but so will the tariffs. That was the outcome of the latest round of trade negotiations between China and the United States in Washington.

The US has upped duties on €180 billion worth of goods after accusing China of going back on previous agreements, designed to answer American concerns on issues such as access to markets and intellectual property rights.

But President Donald Trump tweeted that the talks had been candid and constructive, adding tariffs on China may or may not be removed depending on what happens with respect to future negotiations. Trump said US-China relations remain “very strong” despite the two countries being embroiled in a trade war.

US China trade negotiations continue in Washington
China Vice Premier Liu He (L) is greeted by US Trade Representative Robert Lighthizer (C) and US Treasury Secretary Steven Mnuchin (R) for a continuation of trade talks between the two countries in Washington, DC, USA, 10 May 2019. The administration of US President Donald J. Trump enacted new import tariffs on Chinese-made goods overnight as the negotiations to avoid an expanded trade war continue. Photo: EPA-EFE/ERIK S. LESSER

China accuses the United States of proposing a one-sided text for a trade agreement, saying there were passages that offended its national dignity. It denies going back on its previous commitments.

As a result the US raised tariffs to 25% from 10% on goods from China.

China says it “deeply regrets” the US action and would have to take “necessary counter-measures”.

Via BBC

 

%d bloggers like this: