U.S.-China trade talks to resume despite Trump's tariff threat
Arirang News
2019-05-08
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트럼프 '추가 관세' 위협 속 미중 9∼10일 무역협상
China's top trade negotiator is headed to Washington for two days starting on Thursday... to try to continue their trade negotiations despite President Trump's latest threat to slap new tariffs on Chinese goods.
Our Cha Sang-mi has more.
The atmosphere surrounding the trade talks has changed dramatically in the space of a week.
Now a Chinese delegation led by Vice Premier Liu He, one of the country's top economic policymakers, is heading to Washington for another round of negotiations.
China's Commerce Ministry says the talks will be held on Thursday and Friday.
The trip comes in the wake of President Trump's announcement last weekend that from this Friday he will raise tariffs on 200 billion dollars' worth of Chinese products to 25 percent from the previous 10 percent.
Caught off guard,.. reports say the Chinese delegation were initially uncertain whether Liu should even go to Washington.
However, U.S. Treasury Secretary Steven Mnuchin has said that if the Chinese side brings a new proposal with them,... the U.S. delegation will review it and pass it to President Trump.
The plan for now, though,... according to U.S. Trade Representative Robert Lighthizer, is still to hike the tariffs at 12:01AM Friday, Washington time.
An analyst says this round of talks will be crucial,... but it won't, on its own, end the trade war or even ease tensions, since the negotiations are not merely about economics.
"The Trump Administration is using the trade war in various ways. He takes out the 'U.S.-China trade card' when his position in domestic politics is in limbo, and in international politics when there is a North Korea issue."
Chen Yong-chan says Trump has used this strategy before to pressure Beijing to open its markets to foreign investment or to stop currency manipulation.
Meanwhile, concerns that the trade conflict will continue sent Korean stocks down Wednesday.
Investors were also rattled by North Korea's firing of projectiles into the East Sea last weekend.
The benchmark KOSPI closed sharply lower, down point-4-1 percent... to close at 21-68.
The tech-heavy KOSDAQ slid more than one percent to 7-45.
Global stock markets have also plunged since Trump's tweet..., with the S&P 500 falling Tuesday by more than 1-point-6-5 percent.
Cha Sang-mi, Arirang News.
China's top trade negotiator is headed to Washington for two days starting on Thursday... to try to continue their trade negotiations despite President Trump's latest threat to slap new tariffs on Chinese goods.
Our Cha Sang-mi has more.
The atmosphere surrounding the trade talks has changed dramatically in the space of a week.
Now a Chinese delegation led by Vice Premier Liu He, one of the country's top economic policymakers, is heading to Washington for another round of negotiations.
China's Commerce Ministry says the talks will be held on Thursday and Friday.
The trip comes in the wake of President Trump's announcement last weekend that from this Friday he will raise tariffs on 200 billion dollars' worth of Chinese products to 25 percent from the previous 10 percent.
Caught off guard,.. reports say the Chinese delegation were initially uncertain whether Liu should even go to Washington.
However, U.S. Treasury Secretary Steven Mnuchin has said that if the Chinese side brings a new proposal with them,... the U.S. delegation will review it and pass it to President Trump.
The plan for now, though,... according to U.S. Trade Representative Robert Lighthizer, is still to hike the tariffs at 12:01AM Friday, Washington time.
An analyst says this round of talks will be crucial,... but it won't, on its own, end the trade war or even ease tensions, since the negotiations are not merely about economics.
"The Trump Administration is using the trade war in various ways. He takes out the 'U.S.-China trade card' when his position in domestic politics is in limbo, and in international politics when there is a North Korea issue."
Chen Yong-chan says Trump has used this strategy before to pressure Beijing to open its markets to foreign investment or to stop currency manipulation.
Meanwhile, concerns that the trade conflict will continue sent Korean stocks down Wednesday.
Investors were also rattled by North Korea's firing of projectiles into the East Sea last weekend.
The benchmark KOSPI closed sharply lower, down point-4-1 percent... to close at 21-68.
The tech-heavy KOSDAQ slid more than one percent to 7-45.
Global stock markets have also plunged since Trump's tweet..., with the S&P 500 falling Tuesday by more than 1-point-6-5 percent.
Cha Sang-mi, Arirang News.
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