China considers cancelling trade talks with US this week

Days before Chinese negotiators are scheduled to arrive in Washington, the President threatened to increase tariffs on USD200 billion worth of Chinese goods from 10 percent to 25 percent on May 10th, and levy a new 25 percent fee on all remaining Chinese imports “shortly.’’

As scheduled, dozens of high-level Chinese officials led by Chinese Vice-Premier Liu He are arriving in Washington this week for what was expected to be a final round of negotiations toward a trade agreement.

The US-China trade war broke out in the middle of last year. The two sides continually imposing retaliatory tariff measures, which has caused losses worth billions of dollars for themselves and threatened to hinder global economic growth. Up to now, the total value of higher taxed goods between the US and China has reached more than USD360 billion.

President Donald Trump’s administration wants to maintain the additional duties currently being imposed on imports from China until Beijing executes its commitments on a regular basis. On the Chinese side, Beijing has urged the US to immediately abolish additional tariffs after a bilateral trade agreement is signed./.