Robert Schroeder/MarketWatch
U.S. and Chinese officials wrapped up trade talks Friday in Washington without an apparent breakthrough, just hours after higher tariffs went into effect on a raft of Chinese goods.
Treasury Secretary Steven Mnuchin told reporters after meeting Vice Premier Liu He that the talks were “constructive,” but offered no further characterization. U.S. Trade Representative Robert Lighthizer was also in the talks, which took place in Washington.
Tariffs increased on $200 billion of Chinese goods to 25% early Friday, and President Donald Trump said in a series of tweets that he was prepared to levy more.
Robert Schroeder/MarketWatch
At the same time, Trump projected patience with the negotiations, saying there was “no need to rush” as he continued to say tariffs were good for the U.S. economy.
Trump Today: President says ‘no need to rush’ China talks after tariffs take effect.
U.S. stocks DJIA, -0.19% trimmed losses in the early afternoon but indexes are still on pace for their worst week of 2019.
See: Here are the stocks to buy if an all-out U.S.-China trade war erupts, says Goldman.
Liu told reporters at his hotel in Washington that the talks went “fairly well,” according to Bloomberg News.
It’s unclear when the two sides could meet again. Trump said Thursday that Chinese President Xi Jinping had written him a “beautiful letter” and indicated they would speak personally.
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