WASHINGTON, May 11 (NNN-KYODO) – US President Donald Trump said Friday that the United States will continue trade negotiations with China, and that whether or not U.S. tariffs on Chinese goods are removed will depend on how future talks go.
Trump’s remarks, carried in a Twitter post, suggest two days of negotiations through Friday in Washington have not resulted in a breakdown, despite little progress being made.
At 12:01 a.m. Friday, the Trump administration raised U.S. tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent, in the biggest escalation yet in Washington’s tit-for-tat trade war with Beijing.
Trump, however, said the relationship with Chinese President Xi Jinping remains “a very strong one,” and that “conversations into the future will continue.”
“In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!” he wrote.
Concerns have grown that the protracted trade war would further roil global markets and cast a shadow over the world economy.
U.S. Treasury Secretary Steven Mnuchin said there are currently no talks with China scheduled in the future. “Nothing planned as of now,” he told U.S. business news network CNBC.
Mnuchin attended the latest round of talks with China with U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He.
The officials met in a bid to salvage a trade deal that appeared to be within a reach a week ago. Trump accused Beijing of reneging on commitments it had made during months of negotiations.
Liu did not come prepared to offer much more in the way of concessions, Bloomberg news agency said, quoting several people familiar with the talks.
Liu told reporters the talks went “fairly well,” according to Bloomberg.
China has pledged to retaliate against the latest U.S. duties, but it is not clear what action Beijing will take.
The U.S. action, together with Trump’s threat to impose a 25 percent levy on $325 billion of Chinese products not yet subject to tariffs, is aimed at addressing what the United States and other countries regard as China’s unfair trade practices.
NNN-KYODO
