The United States and China wrapped up another round of trade talks Friday with no resolution on when tariffs on hundreds of billions of dollars worth of goods would be removed
By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time.but said nothing had changed with the added tariffs. “The relationship between [Chinese] President Xi [Jinping] and myself remains a very strong one, and conversations into the future will continue,” Trump wrote.
After Liu had to backtrack on previous commitments, U.S. negotiators can no longer have confidence in future commitments he makes, he said. That’s a situation Lighthizer should understand as well as anyone as Trump often overrules what he does, Reinsch added.Trump on Friday morning sought to ease concerns about his administration’s failure so far to reach a deal.
He also repeated his false claim that "massive payments" from China would be deposited "directly to the Treasury of the U.S." In reality, tariffs are taxes paid by importers, such as U.S. companies, which bring in products from China. Those costs are typically passed on to consumers in the form of higher prices, which can drive down demand for Chinese imports.
An influential business group also worried about the effects of higher tariffs on the economy. “Business Roundtable opposes higher tariffs, which are taxes paid by U.S. consumers, manufacturers and other businesses,” the group said.
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