President Donald Trump says he has not made a trade deal with China yet because Beijing is not 'stepping up' in negotiations. More here:
BEIJING - China will strive to reach an initial trade agreement with the United States as both sides keep communication channels open, the Chinese commerce ministry said on Thursday, in an attempt to allay fears talks might be unraveling.
Economists warn that the prolonged trade dispute between China and the United States is escalating risks to the global economy by disrupting supply chains, discouraging investment and dampening business confidence. Some experts said the next date to watch was Dec. 15, when U.S. tariffs on about $156 billion in Chinese goods are set to take effect, including holiday gift items such as electronics and Christmas decorations.
A former Chinese commerce minister told Reuters that both sides should return to the time when the trade war first started. The U.S. House of Representatives on Wednesday passed two bills to back protesters in Hong Kong and send a warning to China about human rights, with Trump expected to sign them into law.
“If they must insist on going down this wrong path China will take strong counter-measures,” Geng told reporters at a regular briefing on Thursday.
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