Search ForexCrunch
  • China clarified its list of demands ahead of signing an agreement.
  • US President Trump said talks were constructive, Sec. Mnuchin added no more talks planned for now.

A new chapter of the trade war between China and the US was written over the weekend, as the Chinese Vice Premier Liu He made clear what they want to see from the US to reach an agreement. Mr. Liu named three critical points: the US must remove all extra tariffs, set targets for Chinese purchases of goods in line with real demand, and ensure that the text of the deal is “balanced” to ensure the “dignity” of both nations

US President Trump, on the other hand, threatened to escalate tariffs to all imports coming from China and set a one-month deadline to sign the deal. Trump recurred once again to Twitter to express his opinion, saying that he thinks that “China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election,202, to see if they could get lucky & have a Democrat win,” adding that, given the ‘best economy’ he will win again.

Chinese media reported that the next round of talks will likely take place in Beijing, while US Treasury Secretary Mnuchin said that no further trade talks are planned between the two sides   “as for now.”