Trade deal now or 'far worse' in 2020: Trump to China

Chinese Vice Premier Liu He talks with U.S. Treasury Secretary Mnuchin and Trade Representative Lighthizer as he leaves trade talks in Washington

Trade deal now or 'far worse' in 2020: Trump to China

China's size means that the United States "should not have an unrealistic illusion that once the trade war intensifies, it will have more bargaining chips at the negotiation table", the English-language newspaper said, reacting to the U.S. increasing tariffs on the goods to 25 per cent from 20 per cent.

The US escalated its trade war with China on Friday by levying a fresh 15 per cent hike of tariffs on 200 billion dollars worth of Chinese goods in the middle of last-ditch talks to rescue a trade deal. Chinese and US officials held brief talks in Washington that were unproductive, according to people unfamiliar with the matter.

Should the president's instinct prevail, he'll enter next year's election with the most powerful asset for an incumbent - a strong economy. Credit Suisse suggested a trade that benefits should the iShares MSCI Emerging Markets ETF fall between 4.5% and 8% over the next month, while UBS Global Wealth Management made a decision to end its recommendation to overweight emerging-market hard-currency sovereign bonds.

This was supposed to be the weekend when Donald Trump would demonstrate the art of the deal by concluding a trade agreement with China.

"Those new tariffs would be added leverage for Trump to hold over Xi at a G-20 meeting, making it unlikely that he would deploy them in advance - unless Beijing ups the ante by pursuing aggressive non-tariff punitive measures", they said.

But Trump's bet carries obvious risks.

The second is related to China's promise to buy more goods from the United States, he said. Some U.S. companies that buy steel, for example, complain that Trump's tariffs on imported steel leave them at a competitive disadvantage.

The chief envoy representing China in the trade talks in Washington said that the failure to reach any agreement with the United States is "a minor setback" and despite the increase in import duty on goods from China in the U.S., the talks will continue.

Who is really paying for the tariffs, the USA or China?

The U.S. stock market is coming off its worst week of 2019 as trade-war tensions rattled investor confidence.

Mexico's President Enrique Pena Nieto (L), U.S. President Donald Trump (C) and Canadian Prime Minister Justin Trudeau, are pictured after signing a new free trade agreement in Buenos Aires, on November 30, 2018, on the sidelines of the G20 Leaders' Summit.

Trump explained in his tweets why he doesn't believe a recession will happen.

China reacted to before US tariff drops by imposing penalties on $110 billion of markets however is running out of merchandise for retaliation due to their lopsided trade balance. That can increase the prices of goods bought directly by consumers. It denies going back on its previous commitments.

Messages in support of his trade policy were among a few dozen retweets posted by Trump early Saturday. China threatened to retaliate if Trump jumped with his threat. "President after president has done nothing".

Chinese media reported that the next round of talks will likely take place in Beijing, while US Treasury Secretary Mnuchin said that no further trade talks are planned between the two sides "as for now".

That is global dispute No 1 for the president.

In a statement, Chinese officials said the country "deeply regrets that it will have to take necessary countermeasures". He lamented that Trump has "spent the last two years alienating our allies". "The U.S. will be compelled to respond", Glaser said.

US farmers, a key constituency of Trump, have been among the hardest hit in the trade war, with soybean shipments to China dropping to a 16-year low in 2018. "And we've been getting the same old song and dance".

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