Donald Trump and Xi Jinping to meet after defiant China hits US with new tariffs | Eurasia Diary - ednews.net

21 May, Tuesday


Donald Trump and Xi Jinping to meet after defiant China hits US with new tariffs

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The intensifying trade war between US and China, the world's two largest economies, is sending shivers through the global markets.

US President Donald Trump said on Monday he would meet Chinese President Xi Jinping next month as the trade war between the world's two largest economies intensified, sending shivers through global markets.

China announced earlier it would impose higher tariffs on a range of US goods, including frozen vegetables and liquefied natural gas, a move that followed Washington's decision last week to hike its own levies on $200 billion in Chinese imports.

The US Trade Representative's office said later it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China. Cellphones and laptops would be included in that list but pharmaceuticals would be excluded, the office said.
 

Read also:

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Asian stocks, yuan fall as Sino-U.S.trade war deepens - China retaliation eyed

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