Via AP Business

May 9, 2019

WASHINGTON (AP) — U.S. and Chinese negotiators are set to resume trade talks just hours before the United States plans to raise tariffs on Chinese imports in a dramatic escalation of tensions between the world’s two biggest economies.

China says it will retaliate if President Donald Trump follows through, though the Commerce Ministry in Beijing offered no specifics.

The negotiations starting up again Thursday were thrown into disarray after U.S. officials accused the Chinese of reneging on commitments they’d made in earlier rounds of talks. In response to the backsliding, the United States is raising tariffs on $200 billion in Chinese imports from 10% to 25% at 12:01 a.m. Eastern time Friday.

The two countries are sparring over U.S. allegations that China steals technology and pressures American companies into handing over trade secrets.

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