China says trade envoys preparing to go to Washington


They did not offer details. ABC News reported, "The USS Preble and USS Chung Hoon traveled within 12 nautical miles of the Gaven and Johnson Reefs in what the Navy calls a freedom of navigation operation 'in order to challenge excessive maritime claims and preserve access to the waterways as governed by global law, ' said Seventh Fleet spokesperson Cmdr".

The Trump administration will raise tariffs on $200 billion in Chinese goods from 10 percent to 25 percent, effective on Friday.

Stocks dipped Sunday after President Trump warned about increased tariffs, but were largely recovered by Monday morning. "It certainly increases the possibility that you'll have no deal".

Economists quickly pointed out that Trump's comments were inaccurate and that US businesses and consumers paid the price for tariffs.

Trump's tariff announcement abruptly ended a five-month truce in a trade war that has cost the two countries billions of dollars, slowed global growth and disrupted manufacturing supply chains and U.S. farm exports. He also floated the possibility of extending a new 25 percent duty on another $325 billion of imports not already covered.

Stock markets had been lulled into a false sense of security. China poses an enormous challenge to the United States of America. China is sending a trade delegation to the US this week, and if it's successful, Trump's call to raise tariffs could be avoided, in the research firm's view.

"The urgent task right now is for the United States to work with China and move in the same direction so that we can reach a mutually beneficial and win-win agreement based on mutual respect", Chinese Foreign Ministry spokesman Geng Shuang said at a press briefing.

The trade war officially began in July of 2018 when the Trump administration ordered taxes on $34 billion of Chinese imports.

Senate Majority Whip John Thune (R-S.D.), who met with Trump last week on the issue, said Monday evening he was anxious about the potential impact of Trump's latest threat against China and that other Republicans were trying to make their case to the White House.

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Qin Peng said he agrees with Cao Ji's views and that the CCP has no way to fight back.

The warning will throw a shadow over the next round of talks, with a delegation from Beijing due in Washington this week, with Bloomberg News reporting the Chinese side are considering their position. "There were a lot of expectations that at least the groundwork for a deal will be finalized this week", he said, explaining why Beijing should be upset by the new threat.

Technology and industrial companies were leading the sell-off on Monday am. But they have yet to release details, and it is unclear whether the concessions will satisfy Trump.

China's stock market took a dip as it opened, as well. But none of the moves directly addresses American complaints.

Pro-free-trade senators have tried private meetings with Trump, op-eds in prominent newspapers and other tactics to warn Trump away from a new round of tariffs on foreign cars and auto parts, as well as lifting existing levies on steel and aluminum products made overseas.

What did Mr Trump say? . Trump's latest tweets mark an abrupt reversal in stance for the White House after both sides had been saying for weeks that negotiations were going well. They see that as "having another country decide your economic policy". The Chinese economy is decelerating. Scott Perry (R-Pa.) said he believes that Trump should go beyond trade itself. Chinese leader Xi Jinping appears looking somewhat helpless and lost. The trade war is creating uncertainty for businesses trying to decide where to buy supplies, locate factories and make investments.

USA stock markets have gone too high and need to be corrected so that the Fed can decide to cut rates and restart quantitative easing in June.

The Australian dollar also took a big hit from the tariff fears, falling to 69.7 United States cents. "We're optimistic that an agreement can be mutually beneficial". By potentially scotching the trip, Beijing would be following up on its pledge to avoid negotiating under threat, it said.