China Trade Talks End With No Sign of Progress

US, China talks raise optimism on eve of new trade tariffs

Trump has proposed another possible round of tariff hikes involving 25 percent increases on an additional $200 billion of Chinese goods.

Its removal also came hours before Chinese and USA business representatives were slated to discuss the escalating trade war in Washington, and ahead of the latest round of US$16 billion in tariffs from both sides going into effect.

The U.S. and China imposed fresh, previously announced tariffs on each other’s goods in the middle of trade talks.

The dispute centres around Mr Trump's demand for Beijing to drop its protectionist economic stance and buy more U.S. goods.

China's commerce ministry said Washington was "remaining obstinate" by implementing the latest tariffs.

This is the second stage in the escalating dispute, which started when President Trump made a decision to deal with the trade deficit that the United States has with China using radical measures.

It added that it plans to file a complaint with the World Trade Organization.

A Chinese trade delegation has reportedly told Washington there may be no substantial negotiations to avert a trade war between the world's number one and two economies until after USA mid-term elections in November.

Many said the new tax would hurt their businesses and warned that they would not be able to absorb another tax without raising prices for U.S. consumers.




A large-scale and prolonged dispute would likely adversely impact business sentiment, investment spending and employment, the officials warned, and boost prices, which would "reduce the purchasing power of USA households". "Naturally they'll retaliate a little bit", U.S. Commerce Secretary Wilbur Ross said on CNBC on Wednesday at a Century Aluminum Co smelter in Kentucky that has benefited from Trump's aluminum tariffs. U.S. officials worry they might erode the US' industrial leadership.

Beijing has rejected US demands to scale back plans for state-led technology development that its trading partners say violate its market-opening commitments. Chinese officials have told visitors to Beijing that they see their potential responses as broken down into three separate baskets, the person said.

United States and Chinese negotiators have ended two days of meetings without reaching a breakthrough in a trade dispute between the world's two biggest economies that has disrupted global commerce.

Trump said earlier this week that he was not expecting much from the dialogue. They know it. We have a much stronger economy than they have.

If the tariffs are in place for a long while, there will come a point at which the company would begin moving some sourcing and production out of China, a process that would be irreversible for several years once set in motion, the executive said, declining to be identified due to the sensitivity of the matter.

"It has to be a two-way street".

In another CGTN video published on August 7, the broadcaster railed against Trump's tariffs, calling him a septuagenarian who sits on "his toilet at five in the morning", posting tweets "that make you question his sanity". The second includes more substantive reforms that in many cases are already in train, such as opening up China further to USA credit card companies.

John Neuffer, president of the Semiconductor Industry Association, said the tariffs would hurt USA companies more than Chinese firms, since most semiconductor products imported from China started out as chips fabricated in the United States.

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