US President Donald Trump has warned China to strike a trade deal with the United States now, otherwise, an agreement would far worse for them if it has to be negotiated in his second term. Washington and Beijing are locked in a trade battle that has seen mounting tariffs, sparking fears the dispute will damage the global economy. Two days of talks ended on Friday with no deal.
China’s top negotiator said the two sides would meet again in Beijing at an unspecified date, but warned that China would make no concessions on important principles. In a tweet Trump said China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election in 2020, to see if they could get lucky and have a Democrat win.
Trump had accused Beijing of reneging on its commitments in trade talks and ordered new punitive duties on 200 billion dollar worth of Chinese imports, raising them to 25 per cent from 10 per cent.