Trump rattling sabre ahead of make-or-break trade talk

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Trump rattling sabre ahead of make-or-break trade talk

On Thursday, the 9th of May 2019, ahead of a climactic two-day-long trade talk with China, the US President Donald Trump said that he had been taking steps to authorize tariffs on $325 billion worth of Chinese imports, as delegates from both sides had been preparing for a crossover last-ditch talks to avert an exacerbation of a trade war, that had been derailing global economy over the past ten months and casting billions of dollars away.

Given the extent of growing bitterness between Washington and Beijing, there appeared to be little or no time to salvage a trade deal, as US President had threatened to hike tariff sharply on Chinese exports, the deadline of which had just been hours away.

United States had been concocting preparations to increase its existing tariff on $200 billion worth of Chinese goods to 25 percent from an earlier 10 percent by Friday (May 10th) morning, GMT. 04.01, while Trump had been quoted saying on Thursday (May 9th) that the authorities had already begun paperwork to impose an additional tariff of 25 percent on $325 billion of Chinese imports, which had yet to be rattled by trade war.

An escalation of the trade-war may have been likely, as a Chinese Commerce Ministry official said in terms of anonymity on Thursday (May 9th) that this recent leg of trade talk would likely to end up in an “orderly breakdown”, while China could urge for additional time to reach a trade deal before a G-20 summit due to be held by June in Japan.