As Trump raises the anti China balks……
Trump believes that America will make money off of the increased cost of Chinese imports brought by Americans being taxed….
Chinese officials announced early Saturday that the country was canceling planned trade talks with the U.S. amid an escalation in trade tensions between the two countries.
Officials told The Wall Street Journalthat Beijing was unwilling to engage in what it perceived as pressure tactics. According to officials, the move signified that China was following through on its promise to avoid negotiations under pressure.
“Nothing the U.S. has done has given any impression of sincerity and goodwill,” Chinese Foreign Ministry spokesman Geng Shuang said at a news briefing Friday, according to the Journal. “We hope that the U.S. side will take measures to correct its mistakes.”
Sources close to the matter told the Journal that Beijing was open to initiating talks with Washington next month, though Bloomberg reported that the two are unlikely to sit down until after the U.S.’s midterm elections in November.
The move from Beijing comes just days before the latest round of tariffs are set to take effect.