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China broke deal in talks



US President Donald Trump said on Wednesday that China "agreed" in the ongoing negotiations between the United States and China.

1; with a first increase this coming Friday, and another" card. "

The President said that trade negotiations With China moving "too slowly" when Beijing tried to negotiate again, it came as a shock to many observers since recent reports had indicated that the world's two largest economies could be set to sign an agreement as early as this week.

Trump added that the United States "does not return to China stops cheating our workers and stealing our jobs."

"That's what is going to happen. Otherwise, we do not need to do business with them, he says. "We can make the product here if we have to – as we used to."

China said for its part earlier Wednesday that Beijing would repay if US $ 200 billion tariffs of Chinese goods were hiked to 25% from 10% that Trump had threatened.

"The rise of trade friction is not in the interests of the people of the two countries and the people of the two countries world," said the ministry. "The Chinese side deeply regrets that if US tariff measures are implemented, China must take the necessary countermeasures." [19659003] Trump spoke at his Florida rally, suggesting that the United States would be good if there was no deal and trade war with China going on.

"If we don't make the deal, nothing wrong with taking over $ 100 billion a year , $ 100 billion, we never did that before, "he said.

Trump has made that argument before, but many economists warn it misses the whole picture: Although the government cofers may see some benefits of tariffs, they argue that The impact of such taxes is likely to damage the US economy in general.

Chinese Vice President Liu He will launch a Chinese team of trade negotiations this week in Washington with Trump's dealers. said in a Twitter post earlier on Wednesday that Liu was "now coming to the United States to make an appointment."

A source familiar with the Chinese side of the talks told CNBC's Eunice Yoon that Vice prizes will probably try to present an explanation to Trump's law about Beijing's position in the talks – an attempt to remove any misunderstandings that may have occurred.

CNBC's Eunice Yoon and Thomas Franck contributed to this report.


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