US raises tariffs on $200B of Chinese goods, negotiations stall

Two days of trade talks between the United States and China ended without a reached agreement on May 10. After the talks concluded, U.S. President Donald Trump said there was no rush to reach a trade deal.

In a Twitter post, Trump said the two sides held “candid and constructive conversations,” adding that discussions would continue in the future.

The president also said his relationship with Chinese leader Xi Jinping remained strong.

Treasury Secretary Steven Mnuchin said there were no further talks scheduled between the two countries as of yet, CNBC reported.

After midnight, a tariff hike from 10 to 25 percent on $200 billion worth of Chinese goods officially went into effect on May 10. Trump announced the unexpected move on May 5 in response to Beijing allegedly reneging on commitments made during months of negotiations.

The president, in a tweet on Friday afternoon, said whether the tariffs would remain depended on the outcome of future negotiations.

Treasury Secretary Steven Mnuchin said there were no further talks scheduled between the two countries as of yet, CNBC reported.

After midnight, a tariff hike from 10 to 25 percent on $200 billion worth of Chinese goods officially went into effect on May 10. Trump announced the unexpected move on May 5 in response to Beijing allegedly reneging on commitments made during months of negotiations.

The president, in a tweet on Friday afternoon, said whether the tariffs would remain depended on the outcome of future negotiations.

The president said the income from the tariffs would be used to provide food aid to countries in need.

“With the over 100 Billion Dollars in Tariffs that we take in, we will buy agricultural products from our Great Farmers, in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance,” he tweeted.

Read full story: https://news.ntd.com/us-china-trade-talks-break-up-with-no-deal-after-us-enacts-tariff-hike_328499.html
For more news and videos visit ☛ http://ntd.com
Follow us on Twitter ☛ https://twitter.com/news_ntd
Add us on Facebook ☛https://www.facebook.com/NTDTelevision/

Видео US raises tariffs on $200B of Chinese goods, negotiations stall канала NTD