The trade negotiations in Washington between the United States and China did not lead to an agreement. After a few hours, the talks went wrong, The New York Times reports.
It is not surprising that no deal has been concluded. This afternoon, US President Donald Trump tweeted that he was in no hurry to reach a trade agreement with the Chinese.
“Import rates provide far more prosperity for our country than any deal,” Trump reported.
New American taxes on Chinese goods started this morning. On about one third of total US imports from China, the rate has risen from 10 percent to 25 percent. Trump wants to spend that money on American farmers.
In response, China announced that it would come up with retaliatory measures.