China has cancelled upcoming trade talk with the US according to a Wall Street Journal report, as a trade war between the two nations continues to develop.
China announced an additional $US60 billion of US products to be subject to import tariffs in response to a US announcement of $US200 billion of Chinese good to be taxed coming into the US.
A White House official claimed there was still optimism about trade with China despite the escalating trade war and no date for talks being set, according to Reuters.
“We have been very clear in all of these meetings about what is … required,” the official was quoted as saying.
“I am still optimistic that there is a positive way forward, and the president wants us to continue to engage to try to achieve a positive way forward.”
According to the official, the goal is not to separate the US and Chinese economies, which are tightly woven together, but to force China to halt its ‘unfair’ trade practices.