Chinese envoy says US trade talks haven't broken down despite Trump tariffs hike.
However, Treasury Secretary Steven Mnuchin told CNBC that there are currently no China trade talks scheduled in the future."Nothing planned as of now," he said, adding that the talks held this week were"constructive."
The Trump administration raised tariffs on billions of dollars of Chinese goods to 25 percent from 10 percent on Friday. U.S. Trade Representative Robert Lighthizer said the U.S. was preparing to expand those tariffs to cover $300 billion of Chinese products that aren't already facing import taxes, or virtually everything imported from China.....into the future will continue.
He also said the two sides were disagreeing over the amount of goods China would pledge to purchase from the U.S. to help reduce the American trade deficit.Liu sought to downplay the scale and impact of the dispute, saying that China was a strong nation and would surmount any problems caused by the conflict.
"We just had differences on the wording in certain documents and we hoped to solve the differences," he said."Therefore, we think it unnecessary to make an overreaction to it."
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