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Chinese President Xi Jinping, left, and President Trump attend a welcome ceremony in Beijing on November 9, 2017. (Nicolas Asfouri / AFP / Getty Images)
China ended trade talks with the United States a few days before President Trump is preparing to step up the trade battle with a new round of tariffs, according to a person familiar with the discussion.
Chinese officials have canceled scheduled talks after Trump announced it would impose new levies of up to 10 percent on $ 200 billion in Chinese imports, starting Monday. Beijing is committed to retaliate, imposing rights up to 10% on an additional $ 60 billion in US products.
The Chinese Ministry of Commerce did not respond immediately Saturday.
Beijing has been preparing to send Deputy Prime Minister Liu He, the country's top economic leader, to Washington next week, with a mid-level delegation to prepare for the visit, the Wall Street Journal reported.
Treasury Secretary Steven Mnuchin was to oversee the talks, which aimed to ease tensions between the world's two largest economies, US officials said.
The effort collapsed a week after Trump tweeted the White House, feeling "no pressure" to resolve the conflict with China. He accused the country of stealing the intellectual property of US companies, among other commercial offenses.
"We are under no pressure to reach an agreement with China, they are under pressure to reach an agreement with us," he said. wrote, adding: "If we meet, we meet?"
Analysts said the news reflects the breakdown of international relations.
"It's a ridiculous one that does not benefit anyone and a reflection that four decades of constructive relations between the US and China are out of control," said James Zimmerman, partner of the International Office of the international firm Perkins. Coie LLP and former president of the US House. of trade in China.
US industrial groups in China on Saturday urged Trump to resume negotiations, saying the ties between the two countries were bad for global trade.
"We encourage both parties to seriously engage in a results-based dialogue," said Jake Parker, vice president of Chinese operations at the China-US Business Council, which represents about 200 companies, including PepsiCo, Apple, and General Motors.
Chinese President Xi Jinping refused to comply with White House demands because of growing threats from Trump, which pledged to apply tariffs on virtually everything the United States purchases in Beijing.
Analysts believe that Xi must face public pressure to be unwavering in the face of Trump's financial moves in his country as he tries to prove that China is also a superpower on the international stage.
The next round of Beijing tariffs, due to take effect Monday at noon, targets more than 5,200 types of US imports, including industrial parts, chemicals and medical devices.
"In order to protect our legitimate rights and interests and the global free trade order, China will have to take countermeasures," the country's trade ministry said on Tuesday. "We deeply regret it."
Trump's latest levies bring more uncertainty about the state of the negotiations, Chinese officials said at the time, suggesting that the economic conflict could last indefinitely.
Next week, the United States and China may be about to impose tariffs on all of their merchandise trade, which exceeds $ 635 billion a year. According to economists, a total trade war would result in job losses in both countries, as well as an increase in the cost of household items, including bedding, furniture, toys, razors and toasters.
The next opportunity for Trump to meet Xi is in November at the Group of 20 summit in Argentina. The two leaders are expected at the multilateral conference.
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