US-China talks break up after US raises tariffs
Trade talks between the U.S. and China broke up Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports. Trump asserted on Twitter that there was "no need to rush" to get a deal between the world's two biggest economies and later added that the tariffs "may or may not be removed depending on what happens with respect to future negotiations." Hu Xijin, editor-in-chief of the Chinese newspaper Global Times, citing "an authoritative source," tweeted that "talks didn't break down. Both sides think that the talks are constructive and will continue consultations. The two sides agree to meet again in Beijing in the future."
In an interview with reporters later in the day, Vice Premier Liu He said: "We will make no concessions on matters of principle." The Trump administration escalated the confrontation again after the Chinese delegation left town. Lighthizer announced Friday evening that he was preparing to impose tariffs on the $300 billion in Chinese imports that haven't already been targeted. The government will have to get public comment before it can target more Chinese goods.
Federal budget deficit hits record high in June6802:30
Russia’s #gold export revenues exceed #gas sales11801:10
#HarleyDavidson to cut 13% of global workforce. #WSJ158411.07.2020, 19:20
#USTR announces duties on $1.3B in French goods in tax dispute159511.07.2020, 16:15
#iPhone12 will be more expensive156211.07.2020, 15:25
Oil went below $0. Some think it will rebound to $150 one day. #WSJ157510.07.2020, 14:10