Market Chatter: China Preparing for Negotiations with US Regarding 10% Additional Tariffs

MT Newswires Live16:57

The Chinese government is looking to prepare for talks with US President Donald Trump after he unfurled an additional 10% tariff on Chinese goods, the Wall Street Journal reported Monday, citing unnamed sources.

Beijing is looking to offer a return to a previous trade deal with the US that did not work out, the report said, citing sources familiar with the thinking of both Washington and Beijing.

The previous trade deal, hatched during the first Trump administration, could intensify debates in Washington regarding negotiations with China, the report said.

Trump unleashed the 10% tariffs against China due to what he calls an "extraordinary threat" posed by the inflow of fentanyl from China through Mexico and Canada.

The additional tariffs will take effect "until the crisis is alleviated," according to a fact sheet by the White House released Saturday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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