Both China and the US have scheduled further tariff increases for December, and Europe is considering retaliation against any US action
Chinese and American negotiators are set to start meeting again in Washington on Thursday in the latest round of their so-far fruitless talks to strike a trade deal. If no agreement is reached, the already slowing global economy will face another hurdle, with the US set to raise tariffs on China on Oct. 15 and then on the European Union on Oct. 18.
Both China and the US have scheduled further tariff increases for December, and Europe is considering retaliation against any US action. With close to $2 trillion in global trade flows at risk from greater protectionism, according to a Bloomberg analysis, those protectionist actions would depress trade, make businesses more cautious and further damage global demand.
Investors are underlining what’s at stake: US stock futures slid after a report in the South China Morning Post suggested Chinese negotiators led by Liu He could cut short their stay — a report refuted by the White House. “We are not aware of a change in the Vice Premier’s travel plans at this time,” White House spokesman Judd Deere said late on Wednesday in Washington, referring to Liu. Chinese state-media had said Wednesday night that the schedule was still on track.
China
China’s economy would be slowing with or without the trade war. But that conflict, which over the last 18 months has broadened to other contentious areas such as technology, state subsidies, human rights, Taiwan and the Hong Kong protests, is also damaging to the economy, as it cuts demand for Chinese exports, damages business confidence and undermines investment…
Read Full Article: China-US Trade Talks
No comments:
Post a Comment