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The Quick Facts
- Over the last month, the U.S. and China have been in talks to attempt to negotiate a deal to end the ongoing trade war between the two countries.
- The trade dispute revolves around what the U.S. describes as predatory trade tactics utilized by the Chinese, such as cybertheft and forcing foreign companies to hand over technology.
- Trump’s administration has repeatedly said that the negotiations are going well, and that a deal was likely to be reached. But last week, Treasury Secretary Steven Mnuchin suggested that Washington might “move on,” installing some doubt as to the state of the talks.
- Over the weekend, President Trump threatened another tariff hike, saying the tariffs will go up to 25% on Friday. In a tweet the president stated: “The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!”
- The president also reiterated his position that the tariffs imposed on China over the last 10 months have been good for the U.S. economy.
- Trade talks are set to resume in Washington on Thursday of this week.