Media reports: US-China trade talks ended fruitless, more tariffs to emerge
Media reports: US-China trade talks ended fruitless, more tariffs to emerge
The USA and the Chinese trade delegates ended the trade discussion on Saturday, 11 May 2019 without reaching an agreement. In contrast, the USA decided to lift tariffs on USD 200 billion worth of Chinese imports from the current 10% to 25% with effective 10 May 2019.
The Chinese government has responded by threatening to introduce countermeasures in the form of new tariffs and non-tariffs, signalling that the trade war between the two countries might continue to escalate. However, there has not been any official announcement on the specific step that the Chinese government would take.
Earlier this week, the USA President Donald Trump also threatened to introduce new levies on USD 300 billion worth of Chinese imports, putting 100% of Chinese imports under tariffs.