Negotiators working to avoid escalation in tariffs that could result in full-scale trade warInvestors were hopeful of a breakthrough in talks between the US and China as negotiators worked to prevent an escalation in tit-for-tat tariffs that threaten a full-scale trade war between the world’s two largest economies.
Amid rising concerns that President Donald Trump would unilaterally raise tariffs from 10% to 25% on $200bn (£153bn) of Chinese goods on Friday, Beijing scrambled to guarantee Washington that it was sincere in wanting to reach a deal.
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Source: theguardian.com