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President Donald Trump takes part in a welcoming ceremony with China’s President Xi Jinping on November 9, 2017 in Beijing, China. Trump is actually on a 10-day trip to Asia.
China has canceled planned trade discussions with the United States as both sides escalate their dispute from the wake of a completely new round of tariffs, The Wall Street Journal reported on Friday.
that will week, President Donald Trump slapped a fresh round of tariffs on Chinese goods ahead of scheduled trade talks with Beijing, placing 10 percent duties on $0 billion of goods. China almost immediately retaliated with tariffs on $60 billion in U.S. products.
The two camps were scheduled to meet in order to dial back tensions, however the Journal reported on Friday that will China rescinded a proposal to send two delegations to Washington.
The completely new 10 percent tariffs are below an original figure of 25 percent floated by the administration earlier. The president is actually also supposed to threaten to hike tariffs again to squeeze Beijing at the negotiating table, however the Chinese have shown no public signs of bending.
Treasury Secretary Steven Mnuchin had been pressing ahead with attempts to restart trade talks with China.
The White House did not immediately return CNBC’s request for comment.
The full report can be found on The Journal’s website.