China likely to reject trade talks on new tariffs - Reuters
According to Reuters with the initial reporting by the Wall Street Journal, China is very likely to refuse to engage in any fresh trade talks with the US' Treasury Secretary Mnuchin if Trump's latest round of tariffs come into effect.
Key quotes
"The U.S. had proposed the talks, but at the same time moved forward with planning additional tariffs on some $200 billion of Chinese products, the Journal reported.
The report quoted one senior Chinese official saying the country would not negotiate “with a gun pointed to its head.”
Other officials who advise the country’s leaders are suggesting China impose limits on the sale of parts and supplies needed by U.S. businesses, using “export restraints” to threaten their supply chains.
Fresh trade talks had been proposed by Treasury Secretary Steven Mnuchin to begin around Sept. 20.
Though China had begun discussing plans to attend, but began rethinking whether to attend because of the possibility new tariffs may be announced this week."
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
