The Latest: China hoping US will meet it halfway on trade; Japan hoping for end to China-US trade dispute.
In this Feb. 24, 2017, photo, factory workers use gas torches on air conditioning condenser units on an assembly line at a Haier factory in Jiaozhou near Qingdao in eastern China's Shandong Province. U.S. President Donald Trump's latest tariff hike on Chinese goods took effect Friday, May 10, 2019, and Beijing said it would retaliate, escalating a battle over China's technology ambitions and other trade tensions.
At a routine briefing in Beijing, Geng said that sound and stable relations were in the best interest of both countries and the international community. Nogami said any trade measures should be in line with rules set by the World Trade Organization and Japan hopes “both the U.S. and China will work to constructively resolve their problems through dialogue.”China’s government says it will take “necessary countermeasures” in response to President Donald Trump’s latest tariff hike on Chinese imports but gave no details of possible retaliation.
China responded to earlier U.S. tariff hikes by imposing penalties on $110 billion of American imports but is running out of goods for retaliation due to their lopsided trade balance.
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