Trade meetings with China still on despite tariff threat

Chinese envoys are still planning to fly to Washington this week to continue trade talks with the United States despite President Donald Trump saying he would raise tariffs on Chinese goods this Friday. The talks are expected to resume on Thursday. Trump announced over the weekend that he would raise tariffs on $200 billion of Chinese imports from 10 percent to 25 percent, accusing Beijing of reneging on commitments made in earlier discussions. Many analysts saw that warning as an effort to ramp up pressure on Beijing to strike a trade deal.

The news led to fluctuations in global markets, and both the S&P 500 and the Dow Jones Industrial Average saw losses after opening Tuesday. A spokesman for the Chinese Foreign Ministry said his government is “trying to get more information” about the possible increase.