US President Donald
Trump has threatened that the US would hit China with
tariffs on at least another
$300 billion worth of Chinese goods. While Trump on 6 June
said that talks with China were ongoing, no face-to-face meetings have been
held since May 10.
On May 10, the US sharply increased tariffs on a $200 billion list
of Chinese goods to 25% for which Beijing retaliated.
Tensions between the two countries have risen
sharply since talks aimed at ending a festering trade war broke down in early
May.
IMF
warns:
The International
Monetary Fund (IMF) has warned that escalating tariff
threats reduce
business and market confidence and it could slow global
growth that is currently expected to improve
in 2020.Regarding this issue, the US Treasury Secretary Steven
Mnuchin is scheduled to meet People’s Bank of China Governor Yi Gang at a
gathering of G20 finance leaders in Japan. This will be the first face-to-face
discussion between key negotiators in nearly a month.
