U.S. visa move against China casts pall over talks to end trade war
WASHINGTON/BEIJING - Beijing sharply rebuked Washington on Tuesday for adding some top Chinese artificial intelligence startups to its trade blacklist, dimming hopes for progress in high-level talks aimed at ending a 15-month trade war between the two economic giants.
A report from the South China Morning Post said China had tamped down expectations ahead of the talks scheduled for Thursday with Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, saying the Chinese delegation could leave earlier than planned because “there’s not too much optimism.”
Hikvision, with a market value of about $42 billion, calls itself the world’s largest maker of video surveillance gear. Major U.S. indexes opened lower on Tuesday, amid the continued tensions between the United States and China, whose tit-for-tat tariffs have roiled financial markets, slowed capital investment, and triggered a slowdown in trade flows.The trade talks are taking place days before U.S. tariffs on $250 billion worth of Chinese goods are slated to rise to 30% from 25%. Trump has said the tariff increase will take effect on Oct. 15 if no progress is made in the negotiations.
Trump launched a new round of tariffs after the last high-level talks in late July failed to result in agricultural purchases or yield progress on substantive issues. China quickly responded with tariff increases of its own. FILE PHOTO: Containers are seen at Yantian port in Shenzhen, Guangdong province, China July 4, 2019. REUTERS/Stringer
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