Tension rises as Donald Trump vows to hike tariffs on Chinese goods
Stock markets sink and oil prices tumble as negotiations are thrown into doubt
Washington — President Donald Trump dramatically increased pressure on China to reach a trade deal on Sunday, saying he will hike US tariffs on $200bn worth of Chinese goods this week and target hundreds of billions more soon. The move marked a major escalation in tensions between the world’s largest economies and a shift in tone from Trump, who had cited progress in trade talks as recently as Friday. Stock markets sank and oil prices tumbled as negotiations were thrown into doubt. The Wall Street Journal reported on Sunday night that China was considering canceling this week’s trade talks in Washington in light of Trump’s comments, which took Chinese officials by surprise. US officials did not immediately know if China would attend and the US trade representative’s office did not immediately comment. China’s commerce ministry did not immediately respond to a request for comment. The editor of an influential Chinese state-run newspaper said Liu is unlikely to go. “I think Vice-Premi...
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