China Threatens to Scrap U.S. Trade Deals
Warning comes as White House prepares to release a list of Chinese goods targeted for tariff hikes
China's government renewed its threat Thursday to scrap deals with Washington aimed at defusing a sprawling trade dispute as the White House prepared to release a list of Chinese goods targeted for tariff hikes, reports CNBC.
President Donald Trump has threatened to raise tariffs on up to $150 billion of Chinese goods in response to complaints about Beijing's trade surplus and technology policy. As part of that, the White House is due to issue a list on Friday of $50 billion of Chinese goods targeted for a 25% tariff.
Beijing has promised to buy more American soybeans, natural gas, and other exports but warned that all deals were off if Trump's threatened tariffs went ahead.
Read the full report here.