US, Chinese negotiators to resume talks as US tariffs loom
By PAUL WISEMAN AP Economics Writer
May 08, 2019 09:20 PM
A container ship sails off the dockyard in Qingdao in eastern China’s Shandong province Wednesday, May 8, 2019. China’s exports fell unexpectedly in April, adding to pressure on Beijing ahead of negotiations on ending a tariff war with Washington over Chinese technology ambitions. (Chinatopix Via AP)
U.S. and Chinese negotiators are set to resume trade talks just hours before the United States plans to raise tariffs on Chinese imports in a dramatic escalation of tensions between the world’s two biggest economies.
China says it will retaliate if President Donald Trump follows through, though the Commerce Ministry in Beijing offered no specifics.
The negotiations starting up again Thursday were thrown into disarray after U.S. officials accused the Chinese of reneging on commitments they’d made in earlier rounds of talks. In response to the backsliding, the United States is raising tariffs on $200 billion in Chinese imports from 10% to 25% at 12:01 a.m. Eastern time Friday.
The two countries are sparring over U.S. allegations that China steals technology and pressures American companies into handing over trade secrets.