Trump Threatened Tariffs After Hearing of Chinese Reversal, Sources Say

The move comes after US President Donald Trump ramped up pressure on China to finalise a trade deal during upcoming talks by threatening to more than double tariffs on US$200 billion of the Asian nation's sales to the world's largest economy

The editor of an influential, Chinese state-run newspaper said Vice Premier Liu He was unlikely to go.

A decision on whether to go ahead with the talks this week has not been made, the report said. He referred other questions to the Commerce Ministry, which did not respond to requests for comment.

A large delegation from Beijing is due in Washington this week for a final round of discussions but reports suggested the Chinese may cancel or postpone the visit. Hopes for an accord have contributed to the big run-up in stock prices in the USA and China so far this year.

Beijing and Washington have raised tariffs on billions of dollars of each others goods in their dispute over US complaints about Chinese technology ambitions.

That has disrupted trade in goods from soybeans to medical equipment.

The US announces it will impose tariffs of 25 per cent on US$50 billion (S$68.2 billion) of Chinese imports, particularly electronics, in the first round of tariffs specifically targeted at China.

China has retaliated with $110bn-worth of tariffs on United States goods, including agricultural produce such as soya beans, as well as cars, luggage, electronics, housewares and food.

In early trading, market benchmarks in France and Germany fell 2 percent. The future contract for the Dow Jones Industrial Average fell 1.7% to 26,042.00, while that for the S&P 500 gave up 1.6% to 2,900.10. Trump has already twice delayed his deadline to impose the new Chinese tariffs that he threatened again yesterday. But on Sunday, Trump said a trade deal was coming together too slowly.

Talks between the US and China to resolve their year-long trade standoff appeared to be on life-support Monday, with Beijing struggling to respond to a pair of tweets by President Donald Trump that threaten an escalation of tariffs by the end of the week.

Real Madrid boss Zinedine Zidane refuses to discuss Gareth Bale future
I'm not going to say any more because if things work out well, you're excused, but if you say something daft... We played well, no more, we're not throwing flowers into the air.

Eta Aquarid Meteor Shower Peaks This Weekend. Will the HV See It?
NASA said these meteors are fast and can leave glowing trains of incandescent bits which last for several seconds to minutes. But you'll still want to get as far away from city lights and other light pollution to have the best viewing experience.

Trump ups pressure on China ahead of last ditch trade talks
But on Sunday, Trump, who has called himself a 'tariff man, ' said he's losing patience. Trump also threatened to slap an additional 25 percent tariff on $325 billion of goods.

The president has accused Beijing of "unfair" trade policies, including allowing the theft of USA companies' intellectual property. For that reason, if he wants to convince the Chinese he's for real, he'll actually have to impose them for real. They say those violate the communist government's market-opening commitments.

While the two sides had been reporting progress in talks, the sticking points have been on intellectual property theft and forced technology transfers.

They have offered to change industrial strategies but have ruled out discarding them outright. It's possible talks are breaking down, with China offering insufficient concessions, and an increase in tariffs a genuine prospect.

In Hong Kong, the Hang Seng Index fell by around 3.2% or 1,000 points as fears continued that China would call off trade talks after Trump's announcement on Sunday.

Analysts said Trump's comments might be a negotiating tactic, but might also make Beijing reluctant to appear as if it was giving in to United States demands.

It was unclear whether the threat reflected deeper concerns by Trump, who stunned North Korean leader Kim Jong Un by walking away from their nuclear summit in February, or a negotiating tactic.

Fears about a further escalation caused a slump in world stock markets towards the end of previous year.

"The risk of an all-out U.S".

"In the near term, investors are rightfully anxious since the lingering threat of a trade war weighed on risk assets in 2018, especially in Asia", Tai Hui, the chief market strategist for the Asia Pacific at JPMorgan Asset Management, said in a note.

Related News:

  • Liverpool fullback Robertson: Man City unlikely to be stopped

    Liverpool fullback Robertson: Man City unlikely to be stopped

    The achievement is so hard that the last side to do it was neighbours Manchester United - nearly a decade ago. It's sad that one team has to finish second, but that's football - you can only have one victor .
    Hubble astronomers assemble wide view of the evolving universe

    Hubble astronomers assemble wide view of the evolving universe

    Hubble's surveys of disc galaxies aim to explore the relationship between these black holes and their local galaxies . Hubble has spent more time on this tiny area than on any other region of the sky, totaling more than 250 days.
    Iran to Keep Enriching Uranium Despite US Move: Parliament Speaker

    Iran to Keep Enriching Uranium Despite US Move: Parliament Speaker

    Those waivers expired on May 1 and now those buying Iranian oil are under threat of United States sanctions. They said the accord was working and delivering on its goal, and that Iran was continuing to comply.
  • US dispatches aircraft carrier over unspecified Iran threats

    US dispatches aircraft carrier over unspecified Iran threats

    In comments made Sunday night, US Secretary of State Mike Pompeo said the deployments have been in the works for "a little while". Former Israeli national security adviser Yaakov Amidror said on Sunday that Iran was behind the increasing escalation in Gaza.
    Boeing admits knowing of 737 Max problem

    Boeing admits knowing of 737 Max problem

    The inactive alert was later deemed to be "low risk" by the FAA's Corrective Action Review Board, the regulator said on Sunday. King described both features as "supplemental" and "advisory" to other information provided to pilots during flights.
    Blake Lively & Ryan Reynolds are Expecting 3rd Child

    Blake Lively & Ryan Reynolds are Expecting 3rd Child

    In July 2016, Lively paid a visit to The Tonight Show herself, where she talked about being pregnant with her second child. Blake is always a write-off at the Met Gala because even when she observes the theme, it all just comes down to a gown.
  • Jobs surge 263,000 during April

    Jobs surge 263,000 during April

    Wages for production and nonsupervisory workers accelerated to a 3.4% annual pace , signaling gains for lower-paid employees. Data for February and March was revised up to show 16,000 more jobs created than previously reported.
    Norwich City promotion party delay as Canaries' bus breaks down

    Norwich City promotion party delay as Canaries' bus breaks down

    Boro start the day a point behind sixth-placed Derby, who host West Brom, and with an inferior goal difference. West Brom or Aston Villa await the victor and Lampard will begin ramping up preparations over the next week.

    Trump pledges to raise tariffs on $200B of Chinese goods to 25%

    Mindful of his 2020 re-election bid, Trump suggested the measures were not leading to price increases for U.S. consumers. A decision on whether to go ahead with the talks this week has not been made, the report said.
  • Chelsea Asked To Honour Hazard Pledge

    Chelsea Asked To Honour Hazard Pledge

    Speaking in an interview quoted by Metro , Bridge said: "If Chelsea lose Hazard , I don't know how they could replace him". That would explain why, as Marca claim, Real will wait until the end of the season before making anything "official".
    Manchester United's top-4 chances over, Chelsea moves to 3rd in EPL

    Manchester United's top-4 chances over, Chelsea moves to 3rd in EPL

    I'm an optimist by nature and you make the most of it. "They're not letting me down, we're a team, we've been working really hard".
    Robert Mueller may testify about Russian Federation  investigation on May 15: House Democrat

    Robert Mueller may testify about Russian Federation investigation on May 15: House Democrat

    Mueller reportedly expressed concern to Barr regarding the AGs potentially misleading letter . Peter Carr, a spokesman for Mueller, declined to comment on Sunday.

Most liked

About Face: Trump Now Says Mueller ‘Should Not Testify’ Before Congress
It's unclear when Mueller will leave the department or whether he would want to testify in his own capacity when he does leave. Spokespeople for the Justice Department and Mueller declined to comment on Cicilline's remarks and on Trump's tweet.

Spider-Man: Far From Home Official Trailer #2 - HD
It is entirely possible he will walk away from the film knowing he is not the next Iron Man, putting someone else in the hot seat. Now that the movie's new Endgame-spoiling trailer dropped this morning, we know a bit more about just what that means.

North Korea tested rocket launchers and ‘tactical guided weapons’
Saturday's missile launches mark a major change in North Korean behavior, which has been restrained since November 2017. President Trump also said the chairman doesn't want to break his promise to him, and that a deal will happen .

Markets swoon after Trump threatens to hike China tariffs
The United States imposed a 10% tariff on more than $200 billion (€178 billion) in Chinese goods last September. White House officials were unaware on Sunday afternoon whether the tweet would affect those talks.

Search for Maleah Davis: Stepfather says she was kidnapped by 3 men
The stepfather of a missing four-year-old girl told police that three Hispanic males knocked him unconscious and kidnapped her. He said Vence told police that he walked with his son to Houston Methodist Sugar Land Hospital, arriving about 10 or 11 p.m.

Lady Gaga counts down to Met Gala in stunning dress
This year, however, those in attendance will need to define "studied triviality" as the 2019 Met Gala dress code. The style includes irony, humour, parody, artifice and theatricality, among other elements.

Liverpool can score without Salah insists Lovren
The Reds host Barcelona in the Champions League at Anfield on Tuesday as they look to come back from a three-goal deficit. He is desperate, everything, but we can't do it". "We have that result and we have to deal with it.

National Free Comic Book Day hoping to get more kids into reading
G&B Comics are giving away this gorgeous Avengers pin with minimum purchases of $50, and is limited to the first 100 customers. The annual event was born out of an idea from Joe Field, owner of Flying Colors Comics in Concord, California.

Meghan Markle and Prince Harry Might Buy a Second Home Stateside
His royal visit to The Netherlands was earlier scheduled for May 8 and 9, but it was later to changed to one-day visit. But the surgery took place in her grandparents' home in Mayfair, rather than in a hospital.

Best Buy Puts Pixel 3a XL on Sale Before It's Even Announced
It's possible that I/O will see another demo of Stadia with more specific information on the consumer launch. Both the devices have also cleared some certifications and been listed on Geekbench and other platforms.

Watch Game of Thrones Season 8, Episode 4
The Game of Thrones leaks are continuing, this time with footage of a major spoiler from tonight's episode . Except he doesn't call them "spinoffs" - he's not a fan of that term - but "successor shows".

Afghanistan vows to release 175 Taliban prisoners after peace summit
Opposition figures boycotted the assembly, labeling it an expensive election campaign event for Ghani to secure a second term. Delegates attend the last day of the Afghan Loya Jirga meeting in Kabul , Afghanistan, Friday, May 3, 2019.

Rory McIlroy has poor second round at Wells Fargo
Defending champion Jason Day is one shot back at three under after making five birdies and two bogeys during his round. The three frontrunners all played in the more benign morning conditions and ended the day well clear of the pack.

What's known about surveillance of Trump campaign aides
The president responded to the report on May 3, calling the revelation "bigger than WATERGATE". Does Trump have a point that this effort to infiltrate his campaign amounts to spying? No.

"Avengers: Endgame" Hits $2 Billion At Box Office In 11 Days
It recently became the second highest grossing movie of all times, surpassing James Cameron's movie Titanic . For comparison the previous record, held by last year's Avengers: Infinity War , was $640 million.