Trade negotiations between China and the United States

Washington-China trade talks failed to reach any agreement on Friday, hours after President Trump restarted the trade war with China by imposing tariffs on $200 billion worth of imported goods and hinting that he was ready for a long economic struggle.
The president said in a series of morning tweets that tariffs on Chinese goods would boost the U.S. economy, warning that Beijing would impose taxes on almost all Chinese imports if it did not accept U.S. demands. Just ahead of the talks between the two countries, his comments showed Mr. Trump was willing to extend the trade war for the foreseeable future.
Tariffs will make our country stronger, not weaker. Just sit down and watch! Mr. Trump added, adding that the Chinese “should not renegotiate the agreement with the United States at the last minute.” ”
This tough stance has entangled the world's two largest economies into a trade war, and just a week ago, the trade war seemed to be coming to an end. Just a few weeks ago, Mr. Trump was talking about a signing ceremony with Chinese President Xi Jinping, who said it was an "epic" trade deal. But dialogue between China and the United States was interrupted over the weekend, with Mr. Trump and his advisers frustrated by China's attempt to abandon some of the emerging trade agreements.
The trade dispute appeared to be in a strait in the direction of a full-scale economic war last Friday. Trump said his administration is preparing to impose taxes on an additional $325 billion worth of Chinese goods, in addition to raising tariffs on $200 billion worth of Chinese goods to 25%. China threatens to retaliate with its own “countermeasures”, including ending purchases of U.S. agricultural products and setting other non-tariff barriers for companies trying to enter the Chinese market.
Treasury Secretary Steven Mnuchin and Mr. Trump’s top trade negotiator Robert Lighthizer greeted the Chinese delegation on Friday morning the steps of the U.S. Trade Representative’s Office. But the talks ended soon after, and the Chinese delegation is expected to return to Beijing on Friday night.
When Mr. Mnuchin left the talks to go to the White House, he told reporters that the discussion was “constructive.”
Stocks fell in early trading, with the S&P 500 falling more than 1%, but rebounded after Mnuchin's speech.
Whether the two countries can save a trade agreement complicated by political dynamics across the Pacific remains uncertain. Mr. Trump has promised a tough stance against China, and he is eager to avoid being seen as signing a weak deal that does not fully utilize the leverage formed by U.S. tariffs.