US President Donald Trump said he would meet Chinese President Xi Jinping next month as the trade war between the world’s two largest economies intensified, sending shivers through global markets, reported Reuters.
China announced it would impose higher tariffs on a range of US goods, including frozen vegetables and liquefied natural gas, a move that followed Washington’s decision last week to hike its own levies on $200 billion in Chinese imports.
The US Trade Representative’s office said later it planned to hold a public hearing next month on the possibility of raising duties of up to 25% on a further $300 billion worth of imports from China. Cellphones and laptops would be included on that list but pharmaceutical products would not, the office said.