Business Maverick: China Threatens Retaliation as Trump Touts Chances of Deal

US President Donald Trump said Wednesday that China indicated it hopes to “make a deal” when senior Chinese officials visit Washington for negotiations Thursday and Friday. The U.S. has said it will raise tariffs on $200 billion of Chinese goods to 25 percent from 10 percent on Friday at 12:01 a.m. New York-time.

“Escalating the trade conflict is not in the interest of the people in both countries and the world. China deeply regrets the move,” the ministry said in a statement on Wednesday. Biden will ensure that the U.S. and its allies “write rules of the road” in the relationship with China, Kate Bedingfield, his deputy campaign manager, wrote on Twitter on Wednesday.

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