Chinese President Xi Jinping on Friday stressed that his nation is ready to fight the US in a trade war, if necessary, adding, however, that Beijing would prefer to strike a trade agreement with the United States.
China has vowed to take “necessary countermeasures" after US President Donald Trump escalated his trade war with Beijing; just hours after delegations from the two sides wrapped up a first day of trade negotiations in Washington.
Crude oil prices were slightly up at opening on Tuesday as the U.S. and China's restart of trade talks provided optimism for investors who expect poor global economic growth and low overall oil demand next year.
US President Donald Trump has reportedly instructed aides to proceed with tariffs on around $200 billion of Chinese goods, in spite of Treasury Secretary Steven Mnuchin’s attempts to resume trade talks with China.
US President Donald Trump said on Friday that he has tariffs ready to go on a further $267 billion worth of Chinese imports, as the world awaits his decision on imposing levies on $200 billion worth of the Asian nation’s goods.