Tension between Washington and Beijing has risen after a major setback in negotiations last week when China revised a draft deal and weakened commitments to meet U.S. demands for trade reform.
In comments to Chinese state media upon arriving in Washington, Liu said that hiking tariffs “is very disadvantageous to both parties”. Consumer products, including cell phones, computers, clothing and toys, are to be especially hard hit. “We were getting very close to a deal, then they started to renegotiate the deal. We can’t have that. We can’t have that,” Trump said at an event at the White House.
Data released Thursday showed the U.S. goods trade deficit with China shrank to its smallest level in five years in March, which could further embolden Trump as he escalates the trade war with Beijing. A source familiar with the talks said China’s changes to the language of the draft trade deal were so extensive it could take a month to fix them, assuming the United States rejects them.China could make some concessions to prolong talks even after tariffs and retaliation. The two sides could end negotiations, given they are so far apart.
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