Trump's tariff hike on Chinese goods takes effect as the two sides keep talking
Source: Los Angeles Times
Sharply raising the stakes in the trade battle with China, the Trump administration moved ahead with plans to significantly hike tariffs on imports from that country — even as U.S. and Chinese negotiators continue to talk in Washington in hopes of reaching a deal.
As of Friday, tariffs on $200 billion in products from China — including electronics, medical devices, seafood, clothing and handbags — will go up from the current 10% to 25%. The new tariff move was expected to be met with retaliatory measures from China.
The onset of new duties ends a cease-fire agreed to by President Trump and Chinese President Xi Jinping six months ago after a series of tit-for-tat tariff actions. And it increases the odds of a full-on trade war between the two largest economies that would have ripple effects around the world.
The White House, however, issued a short statement late Thursday indicating that the two sides would keep talking, led by U.S. Trade Representative Robert Lighthizer and Xi’s chief trade negotiator, Liu He, saying, “This evening, Ambassador Lighthizer and [Treasury] Secretary [Steven T.] Mnuchin met with President Trump to discuss the ongoing trade negotiations with China. The ambassador and secretary then had a working dinner with Vice Premier Liu He, and agreed to continue discussions tomorrow morning.”
Read more: https://www.latimes.com/politics/la-na-pol-us-china-trade-talks-20190509-story.html
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