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Trump, China Take Harder Stands

Neither side seems optimistic a trade deal will be reached in this week's high-stakes talks. New U.S. tariffs on Chinese goods set to take effect at midnight.

By Shawn Donnan, Jenny Leonard & Miao Han | May 09, 2019 at 11:47 AM

The U.S. and China have signaled hardening positions as they prepare for high-stakes talks in Washington to try and avoid an escalation in a year-old trade war that has cast a long shadow over financial markets and the global economy.

China’s top trade envoy, Vice Premier Liu He, is due to land in the U.S. capital on Thursday afternoon and go immediately into discussions with President Donald Trump’s top negotiator, Robert Lighthizer. U.S. tariffs on some $200 billion in Chinese goods are set to increase to 25 percent just hours later, in a move that economists and businesses say risks being the most economically consequential of all of Trump’s tariff moves so far.

But the mood on both sides going into the talks appears to be hardening, with Lighthizer calling members of Congress ahead of the discussions to warn that a deal this week is unlikely, according to people familiar with the conversations. While Trump on Wednesday insisted that Liu was coming to make a deal and dubbed him a “good man,” he also roiled Asian markets again by saying China “broke the deal” by backsliding on prior commitments, leading him to order higher tariffs.

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