Trump doubles tariffs on $200 billion of Chinese imports
Washington Post Business
By David J. Lynch and
Damian Paletta
May 10 at 12:05 AM
The United States and China hurtled toward a defining moment in their four-decade-old relationship on Thursday, with financial markets bracing for the outcome of unusually dramatic trade talks in Washington.
Negotiators met into the evening but failed to avert an increase in U.S. tariffs on $200 billion in Chinese products that took effect at 12:01 a.m. Friday. The two sides have agreed to continue negotiations Friday.
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Because the higher tariffs apply only to goods that leave China on Friday — not shipments already approaching American shores — officials still have time to work out a last-minute solution.
But no matter what happens at the bargaining table, relations between the world’s two largest economies, accounting for roughly 40 percent of global output, appear certain to change.
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https://www.washingtonpost.com/business/economy/ahead-of-us-china-trade-talks-xi-writes-to-trump/2019/05/09/4adb6f10-727f-11e9-9eb4-0828f5389013_story.html?utm_term=.fb9236384f58
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