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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now