(Associated Press) Trade talks between the U.S. and China broke up Friday with no apparent agreement, and President Donald Trump asserted that there was “no need to rush” to get a deal between the world’s two biggest economies.
Hours earlier, the Trump administration hiked tariffs on $200 billion worth of Chinese imports to 25% from 10%, escalating tensions between Beijing and Washington. China’s Commerce Ministry said it would impose “necessary countermeasures” but gave no details.
The increase went ahead even after American and Chinese negotiators briefly met in Washington on Thursday and again on Friday, seeking to end a dispute that has disrupted billions of dollars in trade and shaken global financial markets.
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