The trade war between China and the United States seems primed to worsen as the governments failed to make progress in two days of discussions.
Reuters says the two sides met last week with low expectations of progress and there are no further talks scheduled at this time. A source close to the negotiations told Reuters that Chinese officials have raised the possibility of no further talks until after the U.S. elections in November. The lack of progress adds to uncertainty for businesses who now have to weigh the risks when considering investments in the U.S. or China.
A new round of tariffs could take effect as soon as early September. There’s no guarantee they’ll be the last tariffs or that there won’t be other measures taken as well. The two countries engaged in talks for the first time since last June.
U.S. officials were due to meet with delegations from the European Union and Japan to discuss joint efforts to confront China at the World Trade Organization over its industrial subsidies and conduct of its state-owned enterprises.
Source: National Association of Farm Broadcasting News Service.