What’s behind Trump’s trade war with China

Vice Premier Liu He will go to the US this week for trade talks

President Trump embarked on a high-wire negotiation tactic Sunday when he tweeted his intention to raise tariffs on $200 billion in Chinese goods on Friday if the Chinese don't get more serious about making concessions in ongoing talks over a new deal.

At one point, there were reports that China's team would pull out of talks, but they were later dismissed by the Ministry of Foreign Affairs on Monday.

CNN correspondent Matt Rivers said China is blinking in the game of "last-minute brinksmanship" on the U.S.

Trump counters that in the best way he knows how, by tweeting.

China has repeatedly said it will make changes to open its economy according to its own timeline, not in response to trade disputes. It would be hard to overcome this setback and reach agreement on other sticking points, such as subsidies and cloud-computing access, in just two days of talks, the person said. Hong Kong was also slightly up before news of Liu emerged.

China will keep calm against threats of higher tariffs from the United States and has "complete confidence" in its ability to face challenges in trade talks, a commentary in China's top newspaper said on Wednesday.

"If the Trump administration follows through with the tariffs threats on Friday, I think it means the talks fall apart. We then need to be prepared for worse than worst", he added.

Trump threatened to raise tariffs on $200 billion of Chinese goods to 25 per cent from 10 per cent, effective Friday. "With China we lose 500 Billion Dollars".

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"The president is doing what he said he was going to do". Niko Partnersreleased new research this month indicating that by 2023, China will have more than 354 million PC gamers playing online games, which is greater than the entire population of the U.S. It doesn't take an economic degree to figure out that losing access to such a massive market because of a U.S.

Intellectual property rights and cyberspying are other vital issues, which have proved sticking points when it comes to an all-encompassing policing accord.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin said late on Monday that China had backtracked from commitments made during trade negotiations.

"Western media has covered this in a lot of detail and obviously there's a lot of emotions involved over the last few days, which you can see in the stock and bond markets", said Do.

"Adding tariffs can't resolve any problem", Geng said. As of this Friday there will be a flat 25% tariff across the board, with $325bn of now untaxed goodies getting the same treatment.

For Liu, what will be said behind closed doors will be as crucial as the message he is likely to carry from his friend and boss Xi. They don't want tariffs to go up.

The tougher rhetoric from the US on trade surprised investors who had been expecting that the world's biggest economies would come to some sort of agreement.

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