China to continue trade talk despite Trump’s tariff threat

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China to continue trade talk despite Trump’s tariff threat

On Tuesday, the 7th of May 2019, Beijing said that a team of delegates led by Chinese Vice Premier Liu He would be visiting Washington for next round of trade talk due to be held on Thursday (May 9th) and Friday (May 10th), despite US President Donald Trump’s threat on Sunday (May 5th) to incline a sharp tariff increase on Chinese imports worth of $200 billion.

The latest move from Beijing came forth, after a Wall Street Journal report had revealed yesterday (May 6th) that China might not continue an ongoing trade talk in light of Trump’s tariff threat, however, Tuesday’s (May 7th) move had pointed towards an obvious urge from China amid a flurry of downbeat economic reports since the beginning of 2019, to avert a rate hike by hook or crook.

Nevertheless, followed by Trump’s Monday’s (May 6th) tweet of issuing a new deadline to raise tariff on $200 billions of Chinese goods to 25 percent from current 10 percent, multiple US officials had been quoted saying that China had not actually been concentrating on the commitments made during the trade talks and there had been very little interest among Chinese policymakers to enforce a structural reform on China’s businesses.

Whenever there had been a talk of IP transfer or independence of US firms conducting business in China, China was countering it with purchasing more and more US goods, said US officials. However, if a trade deal has not been reached by next Friday (May 10th), the higher tariffs announced on last Sunday (May 5th) would immediately take effect, the US Trade Representative, Robert Lighthizer said to the reporters yesterday (May 6th) at a press briefing which spilled further clouds over the prospects of a deal.