Chinese and US negotiators concluded their latest round of trade talks in Shanghai on Wednesday without a post-talks toast as they failed to reach any breakthrough in their trade standoff, although they did agree to continue their negotiations.
Responding to Washington’s latest threat to impose additional tariffs on another $325 billion of Chinese exports, the Chinese Foreign Ministry called on Washington to show “determination and perseverance” and work with Beijing to find a way out of the current impasse.
The United States and China agree to restart trade talks.
The trade war is feared to go beyond tariffs and affect business in the long-term.
Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed.
China and the United States have agreed to hold more trade talks in Beijing.
The US side claimed on May 6 that the US plans to raise the tariff imposed on $200 billion of Chinese goods from 10 percent to 25 percent on Friday, and $325 billion of additional goods will also be taxed shortly at a rate of 25 percent.
US and Chinese negotiators wrap up their latest round of trade talks and were scheduled to resume discussions this week.
US-China talks made “good headway”.