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US-China trade talks break down; trade war to resume

On the economic front,... the two-day trade negotiations between the U.S. and China... have ended without a deal.
The two sides say they've had some constructive talks, but as of now... there are no concrete plans for follow-up negotiations... with the U.S. looking to impose further tariffs on China.
 
Our Oh Jung-hee with this report.
 
Trade delegations from Washington and Beijing -- including U.S. Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer... and Chinese Vice Premier Liu He -- met in Washington on Thursday and Friday.
 
But their two-day talks ended without a deal.
Beijing's top trade negotiator told the media afterwards... that differences exist, but the two sides will meet again.
"The two sides have conducted candid and constructive talks. We also agreed to meet again in Beijing to continue the talks in the future."
 
U.S. President Donald Trump also assessed that the two sides had "candid and constructive" conversations.
He stressed that talks will continue in the future, highlighting his "strong" relationship with Chinese President Xi Jinping.
 
According to Reuters, the talks fell apart as U.S. negotiators rejected Liu He's demand to revise the draft agreement.
China wanted to eliminate prior commitments,... pledging that Beijing would change its laws to enact new policies on intellectual property protection and forced technology transfers,... but the U.S. refused.
 
Washington is moving to impose additional tariffs on Chinese products.
U.S. Trade Representative Robert Lighthizer released a statement on Friday... that Trump ordered his office to begin raising duties on all remaining imports from China -- which are worth about 300 billion dollars.
 
no trade deal
 
That... comes on top of an earlier tariff hike on approximately 200 billion US dollars worth of Chinese imports... from 10 percent to 25 percent.
 
In response,... Beijing's Commerce Ministry said it will have to take "necesssary countermeasures".
With the schedule for future talks still undetermined... and with expectations of Chinese retaliation plus additional U.S. tariff hikes,... trade tensions are expected to further escalate in the near horizon.

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