China trade team still plans on US talks as Trump vows to raise tariffs
Stock markets sink and oil prices tumble after US president’s remarks
Beijing/Washington/New York — China said on Monday a delegation is still preparing to go to the US for trade talks, even as US President Donald Trump dramatically increased pressure on Beijing to reach a deal, saying he would hike tariffs on Chinese goods this week. Trump’s comments on Sunday marked a major escalation in tensions between the world’s two largest economies, and a shift in tone from the president, who as recently as Friday had cited progress towards a deal. Stock markets sank and oil prices tumbled on his remarks, as negotiations to end the months-long trade war were thrown into doubt. “We are also in the process of understanding the relevant situation. What I can tell you is that China’s team is preparing to go to the US for the discussions,” Chinese foreign ministry spokesperson Geng Shuang told a news briefing. But Geng did not say if vice premier Liu He, who is China’s lead official in the negotiations, will be part of the delegation as originally planned. Nego...
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