China may abort trade talk after Trump sprouts new tariff hikes

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China may abort trade talk after Trump sprouts new tariff hikes

On Sunday, the 5th of May 2019, a Wall Street Journal report had revealed that Chinese delegates scheduled to visit Washington this week for latest round of trade talk including Chinese Vice Premier Liu He, might cancel their trips after Trump had again threatened China to impose tariff on $200 billion worth of Chinese goods, if a trade pack had not been signed soon enough on Unites States’ terms.

Nevertheless, the recent development of US-China trade talk came forth after earlier on Sunday (May 5th), the US President Donald Trump had declared that he would be hiking tariff on $200 billion of Chinese imports this week and would likely to aim Chinese products worth of hundreds of billions.

Sunday’s (May 6th) comment came as a surprising move by US president to mount pressure on China, since he had cited progress on trade talks as early as last Friday (May 3rd). Nevertheless, US Treasury Secretary, Steven Mnuchin alongside trade representative Lighthizer had also expressed optimism over reaching a trade deal as early as this weekend.

However, US Vice President, Mike Pence did warn the media on last Saturday (May 4th), that, Trump would unlikely to leave his stronger stance on Chinese financial policy reform ahead of what appeared to be an endgame for the tariff talks.

In point of fact, since China would likely to cancel talks in light of Trump’s tariff threat, that had poured scorns on what had achieved so far, Chinese Vice Premier Lie He’s decision to depart for United States would be highly significant on whether the talks would resume on Washington as previously planned from next Wednesday (May 8th).