U.S. - China Trade War -- News Updates May 21, 2019

CNBC: US-China trade war may ‘get worse before it gets better’ as Beijing cranks up nationalism

* Talks to end the trade dispute between the U.S. and China are believed to have hit a roadblock, and relations between the economic superpowers have deteriorated earlier this month.
* The U.S.-China trade dispute will get worse before it gets better, says Curtis Chin, an Asia fellow at think tank the Milken Institute.
* Chinese President “Xi Jinping needs to show he is in charge,” says Chin, a former U.S. ambassador

There’s more pain ahead for the U.S. and China as their bilateral trade dispute drags on, an expert forecast on Tuesday.

“It’s going to get worse before it gets better,” said Curtis Chin, an Asia fellow at the Milken Institute, a think tank.

Talks to end the ongoing trade dispute are believed to have hit a roadblock, and relations between the two economic superpowers deteriorated earlier this month when U.S. President Donald Trump announced that he would increase tariffs on $200 billion in goods from 10% to 25%. China responded by upping the tariffs on $60 billion of U.S. goods.

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U.S. - China Trade War -- News Updates May 21, 2019

OECD cuts global growth forecast as US-China tensions rise -- France 24
Trump's China trade war risks damaging US economy, says OECD -- The Guardian
Nike and Adidas to Trump: Tariffs on shoes would be 'catastrophic -- CNN
Donald Trump Blames Obama, Bush, Clinton for China Deficit: ‘They Created a Monster’ -- Newsweek
Trump says tariffs making companies leave China, a deal can’t be ’50-50′ -- CNBC/Reuters
China denies US claim that trade deal was in place before Beijing ‘changed it’ as new ban hits Huawei -- News.com.au
‘Still bullish’: Beijing hits back at Trump claim that US tariffs are forcing manufacturers out of China -- Reuters
China accuses U.S. of having ‘extravagant expectations’ for potential trade deal -- Global News/Reuters
China is in ‘no rush’ to restart trade talks -- CNBC
Xi Jinping calls for ‘new Long March’ in dramatic sign that China is preparing for protracted trade war -- SCMP
‘Bullying and blackmail’: China could retaliate as US moves to curb Huawei’s business with executive order, blacklist -- SCMP/Bloomberg
Huawei founder Ren Zhengfei says clash with the US was ‘inevitable’ -- SCMP