On Wall Street, investors expect movement in the trade dispute between the US and China. Beijing keeps the balls flat before a new round of talks. US President Trump threatens to impose higher punitive tariffs on imports from China.
One day before the efforts to resolve the trade dispute between the US and China continue, the People's Republic has dampened hopes for progress. Chinese officials said they were upset over the decision by US President Donald Trumps to blacklist Chinese government organizations and companies. There is a possibility that the talks ended in a dead end this week, a Chinese official said. The US has blacklisted 28 Chinese companies and government organizations for taking action against the Uighurs and other Muslim minorities.
If progress in the negotiations fails to materialize, Trump wants to increase the tariff on Chinese imports from next Tuesday from 25 percent to 30 percent. Chinese Vice-Premier Liu He is expected to hold new trade talks with the US in Washington this Thursday and Friday. Despite the Chinese reservations, Trump had been optimistic about the upcoming new round of talks.
However, the South China Morning Post newspaper reported that talks to prepare the negotiating delegates meeting this Thursday had ended without progress. The newspaper reported that in the talks on Monday and Tuesday, Chinese negotiators had refused to talk about technology transfer – a central concern of the Americans. The futures index on US equities subsequently dropped.