Latest Global Business News

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.

Add comment

Emails are optional and for tracking replies. Names are unique; get yours today with a comment!


Security code
Refresh

La Business

Reaction to collapse of Jamie Oliver’s restaurant chain
Reaction to collapse of Jamie Oliver’s restaurant chain

  Jamie Oliver's restaurant chain has become the latest to collapse into adminis [ ... ]

Read more la
US slows hiring of Chinese nationals by chip makers
US slows hiring of Chinese nationals by chip makers

  The United States is slowing approvals for its semiconductor companies to hire [ ... ]

Read more la
'Boycott Apple' Movement grows in China as U.S. goes after Huawei
'Boycott Apple' Movement grows in China as U.S. goes after Huawei

  The intensifying trade war between China and the U.S. is prompting Chinese [ ... ]

Read more la
US delays Huawei ban for 90 days
US delays Huawei ban for 90 days

  The United States has decided to allow Huawei to purchase U.S. made products [ ... ]

Read more la
Google reportedly cuts off some business with Huawei following Trump's trade blacklist
Google reportedly cuts off some business with Huawei following Trump's trade blacklist

  The U.S., China trade is only heating up with few signs of cooling down. Followin [ ... ]

Read more la
Trump administration restricts Huawei, 68 affiliates from using U.S. supplies
Trump administration restricts Huawei, 68 affiliates from using U.S. supplies

  The U.S. has been lobbying for months to prevent its western allies from using [ ... ]

Read more la
Global markets tumble as China hits back at U.S. with retaliatory tariffs
Global markets tumble as China hits back at U.S. with retaliatory tariffs

  And heightened tensions between the world's two biggest economies sent glo [ ... ]

Read more la
US-China trade talks break down; trade war to resume
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. [ ... ]

Read more la
Shared kitchens increasingly popular
Shared kitchens increasingly popular

Time now for our "Life & Info" segment,... where we focus on information useful fo [ ... ]

Read more la
China threatens retaliation as US files to raise tariffs
China threatens retaliation as US files to raise tariffs

  Refusing to pull any punches,... China says it WILL retaliate after the Un [ ... ]

Read more la
Federal Reserve holds interest rates steady at 2.25%-2.50% as U.S. economy grows at solid rate
Federal Reserve holds interest rates steady at 2.25%-2.50% as U.S. economy grows at solid rate

  The U.S. Federal Reserve left its key interest rate unchanged despite re [ ... ]

Read more la
China signs US$ 64 bil. worth of deals for Belt and Road Initiative
China signs US$ 64 bil. worth of deals for Belt and Road Initiative

  Chinese President Xi Jinping says some 64 billion U.S. dollars worth of deals we [ ... ]

Read more la
Belt and Road Forum kicks off in China
Belt and Road Forum kicks off in China

  China is hosting a forum on its Belt and Road project, the foreign policy in [ ... ]

Read more la
Netflix movies will still be eligible for Oscars next year
Netflix movies will still be eligible for Oscars next year

  Netflix and other streaming services will not face a tougher road to the Osc [ ... ]

Read more la
South Korean e-sports going global
South Korean e-sports going global

  South Korea is one of the world's leading countries in field of E-sports --  [ ... ]

Read more la
Oil prices surge to 6-month high as U.S. announces Iran oil embargo
Oil prices surge to 6-month high as U.S. announces Iran oil embargo

  Global oil prices have hit a six-month high after skyrocketing for two consecu [ ... ]

Read more la

Our Sponsors


La Latest

Reaction to collapse of Jamie Oliver’s restaurant chain

  Jamie Oliver's restaurant chain has become the latest to collapse into adminis [ ... ]

Read more la
Greenpeace protesters block BP London HQ entrances

  Greenpeace protesters have blocked the entrances to BP's London headquarte [ ... ]

Read more la
US slows hiring of Chinese nationals by chip makers

  The United States is slowing approvals for its semiconductor companies to hire [ ... ]

Read more la
Nepalese sherpa sets new Mount Everest record again

  A Nepalese Sherpa has set a new Mount Everest record,... successfully scalin [ ... ]

Read more la
Brexit Party leader Nigel Farage hit by milkshake on campaign visit to Newcastle

  Brexit Party leader Nigel Farage has been hit by a milkshake during a vi [ ... ]

Read more la
Seoul Food 2019 kicks off Tuesday

  One of Korea′s most recognized international food exhibitions has kicked o [ ... ]

Read more la
'Boycott Apple' Movement grows in China as U.S. goes after Huawei

  The intensifying trade war between China and the U.S. is prompting Chinese [ ... ]

Read more la
US delays Huawei ban for 90 days

  The United States has decided to allow Huawei to purchase U.S. made products [ ... ]

Read more la

La Entertain

JJ Lin comes out of closet n shows off naked six packs; boyfriend takes photo

22 May 2019 - Recently, JJ Lin Junjie (38) has experienced a quantum leap in the number of fans foll [ ... ]

Read more la
Stefanie Sun gives virginity to The Coming One; returns as RO ambassador

22 May 2019 - Recently, Stefanie Sun (40) makes a comeback as online game RO(.)com's brand ambassado [ ... ]

Read more la
Jessica Jung, Elle Fanning goes classic; Ming Xi bares all on top in France, Cannes 2019

On 20 May 2019 in Cannes, France, the glamorous parade of stars continue and today we take a look at [ ... ]

Read more la
Luhan's girlfriend Guan Xiaotong nearly no makeup at Cannes 2019

On 18 May 2019, Luhan's young girlfriend Guan Xiaotong (22) flew in to Cannes 2019 for the premiere  [ ... ]

Read more la
Sora Aoi welcomes first twin baby sons of Reiwa era; (Sola Aoi) not returning to jav

On 18 May 2019, Sora Aoi shares photos of her twin baby boys just delivered on 1st May, to help welc [ ... ]

Read more la
BTS recreates iconic 1964 performance by The Beatles on U.S. television

  South Korean boy band BTS... recreated an iconic moment in music history by  [ ... ]

Read more la
Gong Li married again to Jean-Michel Jarre, French music producer; boyfriend upgraded to husband

On 16 May 2019, French composer and master showman Jean-Michel Jarre makes his appearance at Cannes  [ ... ]

Read more la
China may lift kpop ban as Rain performs at Asian Culture Carnival

  A famous South Korean singer has taken to the stage in Beijing for the first t [ ... ]

Read more la