China says still optimistic on US trade talk despite new tariff hikes


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China says still optimistic on US trade talk despite new tariff hikes

On Friday, the 10th of May 2019, the Chinese Vice Premiere Liu He said after concluding a two-day long trade talk that had botched to deliver a decipherable outcome and escalated trade worries further, that, the United States and China had agreed to hold further trade talk in Beijing despite Trump’s tariff hike on $200 billion of Chinese import.

While Liu had narrated a cautious optimism over reaching a deal saying that there had been “issues of principle” on which Chine would never back off, US President Donald Trump had asked his financial authorities to begin paperwork to incline tariff on further $325 billion worth of Chinese imports, which remained untouched so far.

Besides, citing a measured optimism towards reaching a rational deal in a near-term outlook, China’s chief negotiator in the trade talks, Vice Premiere Liu He said on Washington on Friday (May 10th), “Negotiations have not broken down.

Quite the opposite, I think small setbacks are normal and inevitable during the negotiations of both countries. Looking forward, we are still cautiously optimistic”. Nevertheless, Liu’s optimism appeared to be an empty promise at the end of the day, as US Treasury Mnuchin had been quoted saying on a CNBC interview later on Friday (May 10th) that no further talks with China were planned “as of now”.

Concomitantly, on Saturday (May 11th), pouring further scorn over the scorching issue, US President Donald Trump had been quoted saying in a tweet that United States would be back to manufacturing its own goods, as it had been in the “good old USA”.