President Donald Trump ramped up pressure on China to finalize atrade deal during talks in Washington this week by threatening tomore than double tariffs on US$200 billion of the Asian nation'ssales to the world's largest economy and impose new importtaxes.
China is considering canceling a planned Washington trip thisweek by the country's top trade negotiator, the Wall Street Journalreported. Beijing was surprised by Trump's move, the Journalreported citing a person it didn't identify, and doesn't want tonegotiate under threat.
U.S. stock futures tumbled on Trump's escalation threat, withS&P 500 index futures sinking as much as 1.8 percent. The yuanplunged 0.8 percent, the most since August.
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